If we look at the avg. weekly range of the past 3 weeks it´s exactly 204 pips. This week this pair has rallied 230 pips to a massive key level in historic price action.
The avg. weekly range is capping the bullish continuation and the previous key level (146.40 is capping the downside.
Yesterday´s range is tight and inside a triangle (continuation patter) with the lows at that exact level of support.
Should the lows break we could see price dip to retest the weekly lows / previous weekly highs and weekly pivot confluence, not to mention the 2.618 of the last leg up.
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