The pair in question continues to form a correction due to the development of wave 2 of [iii]. The price is preparing for a prolonged impulse growth in the third wave. But before that it can still for some time stall in a narrow price range complicating the specified corrective wave.

A strong signal for the conclusion of buy trades will be a breakdown of the maximum of wave 1. In this case it is recommended to start to conclude buy deals. The potential of price movement, given that the growth is assumed to be a part of the third impulse wave development, is very good.

Recommendations: Buy 1.1650, SL 1.1625, TP 1.2000.