Reference: 10 Day moving average currently at 1.87

A glance at the chart will show that every time we have crossed above the 10 day MA we have hit a new cycle and/or 52 week high in the ensuing days/weeks.

We are currently trending at and above the 10 day MA. I don't think it is coincidence that we are also expecting news to come shortly that will probably take out our previous high.

Last few sessions have also shown clear hammers which are also a reliable reversal pattern out of the recent consolidation.