After a few days of indecision where the pair was forming a base at a very important area of support, it has finally broken out of the range and I expect it to continue that bullish move.
Let's look at 4H chart:
It is a very simple setup. The pair has broken out of the rectangle and it is being capped by MA50 that I will expect to act as a minor resistance giving us a bit of a pullback where we will look to enter long with a much better R:R. Profit target will be the next area of resistance at 08665 where the Daily MA50 will also come into play.
Trade safe!
Let's look at 4H chart:
Trade safe!