The market has been moving sideways since a bullish impulse in wave ((A)) ended. As you can see on the daily chart, there’s an upward impulse, which is likely wave A of (D). Wave B is over, so wave C of (D) might be already underway. The main critical level for this scenario is the low of wave A (101.14). The pair should continue unfolding wave (D) inside the pattern as long as the price remains above the low of wave (C).