Presumably, the formation of the “bearish” correction as the fourth wave continues. Locally, it seems that the wave óðîâíÿ (b) of iv of the junior level has completed and the wave (ñ) can start to develop. If this assumption is correct, it is possible that the pair will decline to 1.1120–1.1060. Critical level for this scenario is 1.1390. Consolidation of the price above this levl will trigger the rise in the pair.