Monthly chart:
The pair broke a strong cluster of resistance (trendline that contained the long-term downtrend in years 1986, 1990, 1998; 23.6% retracement of the 1982 to 2011 decline; 2007 high at 124.14). After the pullback in June, the pair appears poised to close above there again. There's not a lot of chart based resistance until 2002 high at 135.16, but the big figure levels at 125.00 and 130.00 will without doubt be closely watched.
Weekly chart:
Following 600+ pip correction in December…