The daily RSI propelling down and can observe a negative divergence (daily chart).
Base support finds between 1.2200-1.2165. A daily close below could target at 1.2000. In case if the price action follows the blue pattern (option 2 on the below chart) we could forecast an inverse H&S pattern. In a bullish scenario, 1.2700 is an open target while holding 1.2165.
At higher time frames the major ahs spotted with a triple top.
Base support finds between 1.2200-1.2165. A daily close below could target at 1.2000. In case if the price action follows the blue pattern (option 2 on the below chart) we could forecast an inverse H&S pattern. In a bullish scenario, 1.2700 is an open target while holding 1.2165.
At higher time frames the major ahs spotted with a triple top.