The pair found a local resistance level at 1.2930 and so far has not overcome this level. Now it looks like the head and shoulders pattern is formed and at the moment the price is on the top of the second shoulder.
Therefore, we advise you to look for points for entering short positions and to consider your goals at the level of the neck - 1.2860. We assume that in the future, the full development of the figure will follow with the level of 1.27. In case of overcoming the mark of 1.2930, the pair will climb to the upper boundary around the mark of 1.3040
Therefore, we advise you to look for points for entering short positions and to consider your goals at the level of the neck - 1.2860. We assume that in the future, the full development of the figure will follow with the level of 1.27. In case of overcoming the mark of 1.2930, the pair will climb to the upper boundary around the mark of 1.3040