Estimated pivot point is at a level of 1.2659.
Main scenario: short positions will be relevant from corrections below the level of 1.2659 with a target of 1.2488 – 1.2390.
Alternative scenario: breakout and consolidation above the level of 1.2659 will allow the pair to continue rising to a level of 1.2792.
Analysis: Supposedly, a correction continues to develop within the 4-hour time frame in a form of the wave 2 of (5) currently shaped like a plane. Apparently, the wave с of 2 is forming now as an impetus, with the wave (iii) of c forming within. If the presumption is correct, the pair will continue to drop to the levels 1.2488 – 1.2390. The level 1.2659 may be critical in this
