During April and the beginning of May the pair was in consolidation, whilst being capped by a triangle formation. Since then the pair broke out of this formation and reached what would have been a target for many, the previous high of 2.0024 (0% fib). Price has now retraced to the 23.6% fib, with a potential for a formation at this level on the daily time frame.
This pair is expected to see a new higher high, if price does show price action around the current zone. A position can be added if pa is seen around the counter trendlilne in the hourly chart.