I've been watching the pair recently and have noticed that we are in a zone where it is demonstrating crucial price action. It is ranging around the Summer Lows resistance and Mid Month support. Although it closed above the summer lows resistance it seemed to have opened below the price and have been within that range for the day.
A break below the Mid month support could send the pair back into its most recent bear trend.
Im planning on taking a low risk position Enter @ (Close) 118.275 Stop @ Daily Trend Breakout (Green Arrows) Target @ 117.387 (Last Weeks High)