The decreasing of the pair is expected.
On the 4-hour chart the downward momentum within the wave C of the higher level is developing. Locally the upward correction iv of C has formed. If the assumption is correct, the pair will fall to the level of 1.2411. The level of 1.2750 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 1.2750 with the target at 1.2411.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2750 will let the pair grow to the level of 1.2832–1.2970.
On the 4-hour chart the downward momentum within the wave C of the higher level is developing. Locally the upward correction iv of C has formed. If the assumption is correct, the pair will fall to the level of 1.2411. The level of 1.2750 is critical for this scenario.
Main scenario
Short positions can be opened during the correction, below the level of 1.2750 with the target at 1.2411.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.2750 will let the pair grow to the level of 1.2832–1.2970.