The main trend is still bullish, but there’s a “Double Top” pattern, which has been confirmed. So, the pair is likely going to test the nearest support at 1.2300 – 1.2272 in the short term. If a pullback from this area happens little later on, there’ll be a moment to have another bullish price movement.
￼The 89 Moving Average has acted as support, so the price is consolidating. Therefore, the market is likely going to achieve the closest resistance at 1.2398. This level could be a departure point for a decline towards the next support at 1.2300 – 1.2272.