Exhaustion + trendline + support. Have the lines always ready on your chart.
When the correlation is high (>80, green cycle) and the pairs show a divergence the result is explosive. But tomorrow there's the BOE, stay flat!
1.47 strong support, rising trendline. Waiting for the breakout of sub-cycle channel.
Have a look where the volume is pointing. Rising volume on the bullish moves. You can find an explanation at tradingcycles.net/sp500/#wyckoff
All this movement on a minimum means only one thing - Selling Climax. We also have divergence + bottom of the channel.
When the price will come back in the structure the target is the red line. Tradingcycles.net