The upward trend is strong, but there is a local correction of the pair.
Supposedly, the development of wave C of 2 within a bull correction of the senior level continues. At the moment, the first wave i of C has probably finished forming, and the local correction in a form of the second wave ii of C is developing. If the assumption is correct, after correction is completed the pair continues growing towards 1.6400.
In the short-run, open short positions below 1.5768 with the target at 1.5550.
The breakout and consolidation above 1.5786 would allow the pair to continue growing towards 1.6400.