The short-term rebound in the EURUSD may offer a good selling opportunity as the descending triangle appears to be taking shape. In turn, we expect to see a lower high in the EURUSD before a major break to the downside, and we will maintain our bearish call for the euro as the relative strength index preserves the downward trend from earlier this year. In contrast, the GBPUSD looks poised to mark new highs as it carves out a higher low around 1.5800, and we may see market participants turn increasingly bullish against the sterling should the Bank of England Minutes on tap for the following week dampen expectations for more easing.