There is no clear trend line resistance, while horizontal resistance around 0.8880 has been tested many times and looks liable to break. We also appear to be making higher lows on the H4 and are possibly setting up a 123 breakout pattern http://www.nobrainertrades.com/2009/06/1-2-3-breakout.html.
Heavy news day with BOE and ECB meetings, if the trade was taken I think stops would need to be placed at least 20 pips through X.
