After a week of very choppy 1.6275/1.6605 range trade, it should come as no surprise that there are plenty of offers at the top of the range in the 1.6600/10 area. It should also come as no surprise that there are now stop loss buy orders just above the 1.6610 level. Given the price action in recent weeks, my guess would be that we pierce the top of the range, trigger stops, and then stall. Strong offers return at 1.6650, traders report.