We are on the way down, the trendline of s and r line is on the daily tf, we must retest it and pull back briefly before the up move will continue. Friday was a ranging day and all those things could be understand if you can look at the higher timeframe that is always the compelling force.
Dislikedhmmmm... I might tend to agree with you more, if the down move hadn't been rejected below 1.48 and moved up above it, to close well above 1.48 on friday's close. My guess is it will gap a bit upwards on Sunday night and continue to move up.
also, as I'd noticed on Thursday evening, we are seeing a weird sort of reverse head and shoulders mutation right at the top of this recent move above 1.47. I thought it might form a real head and shoulders top but what we got instead was a reverse head and shoulders "at" the top! That sort of gave me a...Ignored