Pair is flirting with a larger falling trend line resistance (drawn from July 2014 high – Aug 2015 high).
A weekly closing above the same would signal a major trend reversal and open doors for a break above 1.50 levels.
However, caution is advised since markets have priced-in ‘Bremain’ to a major extent and hence we may either see a rejection at trend line or a failed breakout, in which case the prices could fall back to 1.4636 levels.