The pair still holds above the 118 handle and is trying to stabilize above the hourly 50-SMA support placed at 118.18.
Stochs on 4hourlies have rolled over from oversold zone with a crossover, also gives a buy on the 4Hourly charts.
A close above 118.30 (major support turned resistance) with support from momentum indicators could see regain of 120 levels.
The pair is being dragged lower with large volumes, a close below 117.72 will take the pair to 116 and then 115.60 levels.
We will wait for further signals to initiate next trade