The price faced a support at 1.2509, so the pair is consolidating.
Nevertheless, bears are likely going to test the next support at 1.2490 near the uptrend.
If we see a pullback from this level, there’ll be a chance to have a new local high.
There’s a “V-Top” pattern, which has been confirmed. Therefore, the market is likely going to decline towards a support at 1.2509 – 1.2490 during the day. Considering a possible pullback from this area, bulls will probably try to test the nearest resistance at 1.2619 – 1.2672.
