Fortunate to isolate an ideal entry this morning with a short trade established just a few ticks off of the multi-day high, and allowing us to already lock in profits. The cross had been rallying sharply out from its 1.4000 record lows, pushing up nearly 6 big figures to leave hourly studies well overbought and parabolic. As such, the probability for a short-term pullback at a minimum was highly probable and the position was taken in anticipation of said correction. Fundamentally, the moves were driven by a massive amount of coordinated central bank intervention from the SNB and ECB, and while central banks are often successful in manipulating short-term movements, ultimately the markets will move in the direction that they desire, which in this case, continues to suggest a lower cross rate. POSITION: SHORT FROM 1.4570 FOR AN OPEN OBJECTIVE; REVISED STOP AT 1.4490.