Strucutre is an extremely critical state. Take a looking from a monthly perspective, we can see that the 0.7000-0.7100 handle has been an extremely tough area to break for the bears. With this, it's understandble to see why the banks are looking buy within this region. With this being said, sells and buys are warranted as short term with moderate to higher risk associated to the trades. Full analysis on this pair can be found on The Exchange. What do you legends think? . The Exchange The exchange will provide you with continuous information, via multiple daily technical and fundamental market updates from NY and London FX sessions, designed to add dimension and breadth to your trading.