As many have pointed out to me since my last post, the double-top on the daily chart will lead to existing longs raising their trailing stops just to lock in some profit. Hard to blame them ahead of a long weekend.
The first level of stops are directly below 1.6680 according to one of the bigger prime brokers.
I’ll stick with my buy-dip strategy but I will probably wait a few days and get them a bit/lot cheaper.