Correction to form
Supposedly, a bullish impetus has formed as the first wave within the fifth wave of senior level. Apparently, a bearish correction is forming locally as the second wave, within which the pair is expected to decline to a level of 1.2240. The level of 1.2561 is critical in this scenario as the breakout will enable the pair to continue rising to a level of 1.2843.
Trading tips
Sell the pair below a level of 1.2560 with a target at 1.2240.
Alternative scenario
Breakout and consolidation above the level of 1.2560 will allow the pair to continue rising to a level of 1.2843.