The daily bar closed as a doji just a little below the resistance trend line of the channel, in which the supposed B wave was developing. Not to mention that the difference between its open and close levels was just five ticks (О – 110.872, C – 110.867). The weekly bar also closed right at the resistance trend line. Such bars, formed at that place, are a signal for a certain amount of indecision on the market.
If the pair breaks out and remains above the resistance trend line next week then the scenario for a rally and the development of another impulse wave to the upside (wave C in red on the weekly time frame screenshot) will become more valid.
In the alternate scenario the pair will move to the downside but it seems less likely for the moment.