This pair did not do much yesterday. It tried to get up above 1.1200
during the early part of the London session, but fell back after making a
high of 1.1233. Looking at the chart above the current price, there are
plenty of resistant levels and a questionable but possibly still potent
trend line. This means that although the flow of price does seem to
want to go upwards, there is a lot holding it back.
All together this will probably mean that the price will again
consolidate today, and any fast runs up to 1.1225 and above will be
quite likely to give short opportunities, but maybe only for 25 to 50
pips or so.