Attached is the hourly chart of GU. This pair is just meandering with no specific direction. It has been ranging for quite sometime with good support from below but has not been able to make a break to the upside. Again, i have marked the high range control bar from 2 days back and you can see that today morning, the high of this bar, acting as support now, was tested and the price has since bounced about 30 pips.
This pair looks quite weak and hopefully, today's MPC meeting minutes should give it a specific direction. I expect it to go down but lets see.
