On the 4-hr chart, we have divergence, while the daily has hit the oversold territory.
Hence, a break above 1.2445 (Asian session high) could yield a corrective rally to 1.25 – 1.2586.
Note that we are operating in a largely uncharted territory. Short-term and long-term averages are overstretched. Overall, it appears the spot is likely to turn sideways in the short-term.