The pair can fall.
On the 4-hour chart the downward correction is forming as a wave (2) of the higher level. At the moment the local correction has ended as a wave B of (2). If the assumption is correct, the pair will fall to the levels of 1.1550-1.1478. The level of 1.1861 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1861 with the targets at 1.1550–1.1478.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1861 will let the pair grow to the level of 1.2000.
On the 4-hour chart the downward correction is forming as a wave (2) of the higher level. At the moment the local correction has ended as a wave B of (2). If the assumption is correct, the pair will fall to the levels of 1.1550-1.1478. The level of 1.1861 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.1861 with the targets at 1.1550–1.1478.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.1861 will let the pair grow to the level of 1.2000.