Following on from a substantial downtrend in this pair, we can see that price has broken out of the descending channel and been ranging sideways for the last 4 days. Price is now consolidating within a small ascending channel. This is a pivotal area for this pair as any break above this could signal the beginning of a large correctional move to the upside.
If price can breach higher above the 5240 zone this may indicate further upside in this pair.
If price can breach higher above the 5240 zone this may indicate further upside in this pair.
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