Breaking 125 after steep retracement indicates that traders believe the intended rate hike is coming in September
The pair is currently in a bullish channel, and is coming down to retest previous highs
I will see if lower channel support holds, or the pair will bounce Then I will go long there - just below 125, with a SL below the lower channel support, a matter of a mere 20 pips or so The TP will be the next move towards the upper band of the channel, probably around 125.50