The blue support line on the daily time frame appears to be holding again and price is climbing up the rising trendline shown.
This trade has huge potential as this pair remain in the lower fib area under the 23.6 level so the scope for a move north is massive.
I have a STOP under S61 support at 1.0400.
Lots of headwinds ahead but should this trade make progress and attack the 200 on the DTF (1.06 area) we will have a squeeze situation and should the BULLS defeat the 200 then we are off to the stars.
This STOP is now just under todays open.
Risk on this trade -13 pips.
This trade is at +5
Looking 1.0509 H1 200sma before I change the STOP.
If we get there then I'll re-assess the overall setup.
This suggests to me that the BEARS are still firmly in control of price and any we should look to close and reverse higher up.
Next target for this trade is the 200sma at 1.0510 area and mid pivot at 1.0524.
If we get there, depending on price action I shall look to do just that.