That is if I've understood this correctly to be barrier triangle with a outcome, at least temporarily. I think so because the wave labelled b went a few pips higher than the wave labelled (a).
I think in the more medium / longer term it may want to take itself nearer to the upper side of the defined channel, which by the time it gets there is in the 1.13 / 1.14 area, in order that it may drop further(?)
Shorting today's drop was quite lovely.
I'm not sure where that leaves tomorrows US GDP print. A bit dollar positive? It could be so, the sufficient take opportunity to sell the dollar? Friday next is NFP.