This pair looks tricky at the moment. Depending on what the structure in the ellipsis is, the price could correct a bit more upwards or fall from current levels. Price is currently sitting on the 50 weekly MA (which usually acts as a good support or resistance depending on price). With this, if price breaks out of the two white lines, it is possible to see 166.20 to 167.5 before the collapse. This will support the hypothesis that the ellipsis structure is subwave 2 to 5. And that the whole move from 171.30 to 156.3 is major wave 1 down. However, if the whole of the ellipsis structure is a wave 3 down, then the resistance of the white lines may possibly hold and price will collapse to the down side. Either ways there is more room downstairs than there is upstairs. Best to sit on the side and watch. Also watch out, there could be major brexit announcement on Northern Ireland.