Notice now that price has arrived at this (prev) s&r zone up here @ 2.0265-70 region, it's testing out the supply?
Take a looky across on your large hourly chart & you'll see a trench between 2.1080 & 2.0270 going back to late July where prices got jostled around a ways.
These prev levels often contain bits & bobs of stop, limit & protective activity from the various participants (depending on their agenda's & trade plans).
You often get a whole bunch of mish mash action all building up at these crossroads on the price map. Once price bats it's way thru these zones (or gets pushed back on strong supply), it quite often sprints away with a good lick of speed.
Lets see how this second attempt stacks up here abouts.
If it gets repelled, we got the lower initial line @ 2.0180 to maybe shoulder the surge back. If not, I guess prices will break thru & maybe re-test this area to check on the demand before taking a run @ 2.0390-400.
We'll see huh?
We might have to wait till tomorrow now that London is shutting it's doors for the day. Plus we got the NFP circus to contend with tomorrow too.
Hopefully we might have ourselves a party up here should events go our way!!
Or maybe......