This is a nice looking setup as its a pattern that is going in the dircetion of the trend and theres a possibility to shoot for extended targets, at least back up to previous structure as ive highlighted on the chart!
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Smart Trading FX
It would not be breaking the trend as the trend is Bullish! Go out to the Daily or weekly chart and you will see how Bullish this pair is, an i believe there is still room to the upside so i would only be looking for Longs if i was to trade this! Hope that helped!