The price action on the daily time frame continues to stay above the yellow upward sloping trend line
indicating a possible upward breakout is likely to happen. This was seen in the past two sessions where it briefly punctured to 1.1335 level only to give back it's gains. The retracement seen in Friday's session was just an attempt to weed out the Longs & coincidence to falling world equity indexes. On a worst case basis, price action could retrace to 1.1155 level, putting it at the yellow trendline
, & bounce from there, otherwise I see it retesting the 1.1332 level and building from there.