I think that the person you know that made lots of pips off this pair since January probably got into a simple trend line break. If you look at the chart there is a very clear sign of a huge bearish move. The price had been building on a steady trend and then once this TL broke in January, the exact time you said he started making those pips it had a long way to fall to equalize. At this point on the daily I would call it bullish, but there is no clear trade to me so I will remain sidelined on the pair until i see something of value.