I’ve been trading and watching this pair for a while now. Last week it was surging above the 0.8980 level and even closed above it on Thursday. Along came Friday and nearly took away all the pips from Thursday’s session. Thursday’s close appears to me more of a false break than anything else. The ascending channel extends from the Sept low at 0.8746 and that is key here. The pair is clearly in an uptrend, but I like the idea of selling on a close below the channel support at 0.8896. I will wait for a daily close below this level. The next levels of support below are the 0.8830, followed by 0.8744/0.8600 and 0.8470. Mr Draghi is due to speak on Thursday, so I will let time be the judge.