During the previous trading session the currency rate expectedly returned back to the 1.3110 mark, which represents location of the 23.6% Fibonacci retracement level. As this barrier was additionally backed up by the 55-hour SMAs, it made a rebound. However, the fact that the cable failed to climb above the 50% retracement level at 1.3180 two times in a row as well existence of a slope that lies along rising 55-hour SMA indicates on existence of a minor ascending triangle pattern. If this assumption is true, then the pair is likely to make a breakout to the top already by the end of the day due to existence of combined support barrier formed by above 55- and 100-hour SMAs, the 38.2% retracement level and the weekly PP at 1.3150.
