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The pattern started when the pair bounced from 0.9726; currently it is trading at 0.9797. Technical indicators on aggregate point at appreciation of the pair on 1H and 4H horizons. The SWFX market sentiment is bullish—74% of all positions on the pair are long. In addition, in the range of 200 pips from current market price 58% of all pending orders are buy orders. Long traders could focus on Bollinger's band at 0.9809, daily pivot (R1) at 0.9813, pattern's resistance at 0.9818 and daily pivot (R2) at 0.9844.
The Stochastic indicator on 1H time horizon sends sell signal suggesting that we might see an attempt to breach pattern's support in the near future. Short traders could focus on 20 bar SMA/pattern's support/daily pivot (PP) at 0.9793/98, Bollinger's band/Fibonacci (23.6% of move since 14th of September) at 0.9776/74, daily pivot (S1) at 0.9758 and 200 bar SMA/Fibonacci (38.2%) at 0.9747/48.
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