Price has been playing in this ascending channel, and we looked for a long on this pair, however, price failed to reach its previous high and/or create another high, which shows a slow down in momentum. This is followed by the break of this ascending channel and now we have a bit more confirmation to look short. Price is also currently under the 50 ema (which acts as dynamic resistance). I see candles with long wicks at the top which show rejection, and price is also responding to the 50% fib level.