I've zoomed in on the 1hr time frame and identified the 5 wave down move of the wave ((v)).
We're currently forming the wave (iv),
After that the last wave of the will form and we're gonna place our trade.
I've updated the entry price to the of the wave ( iii ) which is the most probable entry point.
The stop is still at 1.2240 and the target is still at 1.2540