This is possibly my most-involved idea with many working parts - which in hindsight is less than ideal. In any case, we can see a rising wedge forming due to the higher highs and higher lows that this pair has been experiencing since mid-2015. From here, we have two distinct options:
i) The price rallies back with a possible 'intra-wedge' play where it has the chance to hit three targets outlined in green (potential of about 250 pips).
ii) The price breaks out of the wedge and drops to the two targets outlined in red (potential of about 500 pips).
Secret option /iii) A combination of both of the above options happens; This is where it gets very tricky simply because of the multitude of paths that the price may take here. For example, it could hit Target 1(green) then drop out of consolidation then hit Target 2(red). The bullish butterfly I've included here could be completely wrong but it's included here as a way for me to make sense of the potential pattern and give me a 'more solid' play.
However, I'm not a fan of having multiple potential options as it simply increases the chance of one part failing and negating your gains. I wouldn't recommend pursuing these options unless you're experienced enough to be able to handle the consequences, but it should make for an interesting conversation!
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Targets 1 and 2 Reached
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Price is bouncing off the S&R levels as expected. The wedge is taking a more pronounced effect here, so it looks like it might hit Target 2 a second time.
Trade active
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The price appears to have fallen out of the wedge as expected; Trade active