I switched to zigzag indicator
to remove all the noise of the 4h chart. As you can see the cable is oscillating within an intermediate channel which is itself enclosed by a bigger structure. What we may expect now, from a statistical point of view, is a breakout from this ranging state, either up or down. Targets are given by the height of the first real oscillation. If it breaks soon, we could either have 1.5 as upper target, or 1.35 as the lower target level. But it is more likely to make a few oscillations before, maybe the April 14 decision of BOE could change the whole thing.
Video of the day: https://www.youtube.com/watch?v=vf_mWMckB_Q