The rally off 2017 low has an impulsive structure. You can see clear five waves up. That rally topped at 1.2555 in February 2018.  The decline that followed has a questionable structure. It could be wave B down as shown on the chart. Or it could be just a wave ( a ) of B, the first leg of that wave B down. In any case, whether it is all of B down or only its first leg ( a ) down we are going to get a strong move up soon. Price has been trading sideways in a tight bullish wedge. We can get the final drop to 1.11 or even 1.0970 before a bullish reversal. If that move down off the 2018 top is all of wave B down then we may get a strong multi week rally to 1.36. Conversely, if that was only the first leg down in wave ( a ) of B then it still has to rally at least to 1.1750 – 1.1870.