Retrace zone achieved but is it over?

The pair reached nicely into the retracement zone I defined in yesterdays post at 10am. From the looks of it I think this particular short move may not be over yet. It is dificult to tell right now. I am going to take a wait and seee approach for right now. If the short is over or very nearly over and the long resumes, I think a good first target on the long side would be 1.6400. No chart right now