An upside momentum provided by the junior ascending channel in conjunction with release of information on the Halifax HPI as well as Mario Draghi speech helped the Pound to break through the upper trend-line of a senior descending channel.

On the one hand, the pair has all chances to continue the surge towards the weekly RR3 at 1.3158. On the other hand, the further direction will very depend on release of data on the UK Manufacturing Production.

If the numbers will be negative, the pair might slip back until a combined support set up by the weekly R2 at 1.3077 and the approaching 55-hour SMA.

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