EURUSD has been in a consolidation for quite some time now, but the recent price action suggests that a breakout to the upside is in the making. Various support & resistance reactions can be seen on the chart with rectangles and a channel. A break above 1.18 will suggest a continuation of the rally started in the beginning of the month which will drive prices much higher towards 1.21-1.22 levels. However, I will be looking to close this trade 2:1 RRR.