I am going to comment on this pair from an Ichimoku and Price Action perspective. Ichimoku first.
Although the pair is above the Kumo and Kijun, it has been sandwiched below the Tenkan for 8 days now. By itself this would be suggestive of weakness. But add how the price action has related to the channel and its more suggestive.
Look how the price action has responded to the bottom of the channel. Only in the first (of the last 4) approaches did it stall at the bottom. But each time it was rising quite steadily, along with the tenkan. Now the tenkan has been holding price for 8 days capping the upside. Combine that with how …... Keep reading