I have banked some shorts there under Friday's low and covered the rest. Price action is not committed to this downturn at the moment and perhaps confirms that this is a shallow retracement (likely a wave 4). The hourly momentum study is looking leggy and would only support further acceleration if this is a trend change. If it continues to dribble down, I'll look for a place to lose the shorts and move long, but for now, I am thinking another spike up in a 5th wave to the 1.3745 to 1.3818 zone would be a healthier place for me to be short than holding out for more here.
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