The 34 Moving Average has acted as resistance, so the price so consolidating. It’s likely that the pair is going to reach the nearest resistance at 1.1627. A pullback from this level could be a departure point for a decline towards the next support at 1.1548 – 1.1526.
The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.1619 – 1.1634. If a pullback from this area happens next, bears will probably try to reach another support at 1.1574 – 1.1548.