The Measuring leg is where the directional volatility peaks, the Divergent leg is the higher / lower close made with a diverging directional volatility peak.

The two sides work independently, so there may be overlaps.

Some people are talking 1.1380 already. We shall see. One step at a time. The current consolidation level would allow for 1.1250.

for (i=60; i>=0; i--){
       if (Open[i]<Close[i] || Open[i+1]<Open[i+1]) { 
         if (Low[i+1]<Low[i] && Open[i+1]>Close[i+1]) ObjectCreate("Citera"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], Low[i+1]-20*Point);
         else ObjectCreate("Citera"+IntegerToString(i), OBJ_TEXT, 0, Time[i], Low[i]-20*Point);
         if ((iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,2,i+1))-Low[i])*10000<3.2) ObjectSetText("Citera"+IntegerToString(i), NormalizeDouble((iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,2,i+1))-Low[i])*10000,2), 17, "Impact", Green);
         else ObjectSetText("Citera"+IntegerToString(i), NormalizeDouble((iHigh(symbol,0,iHighest(symbol,0,MODE_HIGH,2,i+1))-Low[i])*10000,2), 11, "Impact", Navy);
       }
         if (Open[i]>Close[i] || Open[i+1]>Open[i+1]) { 
      if (High[i+1]>High[i] && Open[i+1]<Close[i+1]) ObjectCreate("Citera"+IntegerToString(i), OBJ_TEXT, 0, Time[i+1], High[i+1]+35*Point); 
       else 
         ObjectCreate("Citera"+IntegerToString(i), OBJ_TEXT, 0, Time[i], High[i]+35*Point); 
         if ((High[i]-(iLow(symbol,0,iLowest(symbol,0,MODE_LOW,2,i+1))))*10000<3.2)
         ObjectSetText("Citera"+IntegerToString(i), NormalizeDouble((High[i]-(iLow(symbol,0,iLowest(symbol,0,MODE_LOW,2,i+1))))*10000,2), 18, "Impact", Red);
         else ObjectSetText("Citera"+IntegerToString(i), NormalizeDouble((High[i]-(iLow(symbol,0,iLowest(symbol,0,MODE_LOW,2,i+1))))*10000,2), 11, "Impact", Brown);
       }
}

Is the 1.1273 high in danger? Lots of news on Monday. In two steps it would be doable with a no-break extension.

Rob Roy is afraid of a Katie bar-the-door event. Play it safe, hedged until a turn becomes confirmed.