It looks like the price has managed to breakout this parallel channel and is still within the bullish channel. Once the price broke it retraced and tested the resistance level of the bearish channel and the level looks now to be acting as a level of support. It is very likely that we might see bullish gains over the coming days. The RSI has positioned itself in a better to make further bullish gains. We should see the price of this pair move up to around 114.
