Having not managed to display a single daily close (10pm CET) above key-Fib.-resistance at 8.4350 (minor 76.4 %) the market is still at risk of having only performed a countertrend B-wave rally.
For the latter to receive stronger support though it would take a decisive hourly close below 8.3700 (minor 38.2 %, i.e. below 8.3500) which would then open the way for a broader C-wave down to 8.0619 (int. 38.2 %), but at least to 8.1846 (minor 76.4 %).
To start questioning the broader up-trend as such it would take a decisive break below 8.0619, i.e. a break below weekly trend line support cutting in at 8.0083 this week..
A decisive daily close above 8.4350 would on the other hand re-open the upside for a straight extension to 8.7132 (50 %).
JPM