The pair has pulled off the low of the range (1.4800), and looks prepared to move back higher to test some former highs. This will either be confirmed or rejected based on movement through the following levels:

A move back above 1.4890 indicates movement back above 1.4900 and a test of recent swing highs at 1.4930-1.4940. We have trendline support above this at 1.4950-1.4965, this will also act as resistance. Beyond is resistance at 1.4980-1.4990.

Keep in mind that old support and resistance become new resistance and support respectively if a level is moved through and then retreats back. Movement through one level indicates movement to the next, and failures are likely to move back to other levels mentioned. Support and resistance does not mean rates will move exactly to the price mentioned, rather they are profit taking opportunities in those areas (or possibly entry prices if moved through) as retracements are more likely around those levels. This is misunderstood by many traders, and I will elaborate on it on an upcoming post on my blog.