This is Median Line Analysis in action.
There are other forks criss-crossing as per usual with strong influence,
but I think this is the fundamental active working channel,
(with added Andrews Pitchfork,) that interestingly
this currency pair entered at the very beginning of this year,
jumping the 1.618.
And the pair returns to the median line as exactly per theory,
hence the current apparent indecision as it currently sitting pretty much right on it,
US economic cyclical crossroads etc etc.
PS. I've left all the indicative 'structural lines' to indicate how I worked it out.
There are other forks criss-crossing as per usual with strong influence,
but I think this is the fundamental active working channel,
(with added Andrews Pitchfork,) that interestingly
this currency pair entered at the very beginning of this year,
jumping the 1.618.
And the pair returns to the median line as exactly per theory,
hence the current apparent indecision as it currently sitting pretty much right on it,
US economic cyclical crossroads etc etc.
PS. I've left all the indicative 'structural lines' to indicate how I worked it out.