Here's a great example of a price channel, which is covered at length in Abhi's price action course). I still favor the horizontal lines much more when it comes to trading, although I think channels are useful in understanding how price is moving.
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This channel has been going on since June of 2012, although depending on how much validation you require, it may not have been apparent until this past September. That is a criticism of channels, and why some favor median lines instead (see Yertle's course on median lines).
USD/SGD, along with USD/CAD, is another pair I've been trading from the short side for the past couple years. I'm in a short USD/SGD trade now as well.