Technical view: Extension higher while remaining above the 1.2120’s – 1.2040’s demand zone.

At this stage the pair can continue extending higher in a parabolic structure as it did extending lower back in 2014. Yet can see a impulse structure in the ongoing leg from the 1.1550’s lows so we can assume we are currently rolling in wave 3 which has the scope to continue up to the 2.272 Fibonacci extension towards the 1.2630’s from there correct by 0.236% down to 1.2370’s and again one more push to 1.2870’s to complete wave 5, from there make a dipper correction if not complete the bounce from the 1.04’s lows.