The pair is possibly testing the trend line support. On the weekly chart, Stochastic (120,1,5) is Overbought.
from the daily chart, it will safe to go short if today candle closes below 1.22611. Watch lower time frames for entry confirmation
Note: Trade with Care. Trading in CFDs can lead to losses that exceed your investments
The pair has reached support at 106.3. seems Wave B is complete and start of an Upside wave C in inevitable. A break below 106.3 would mean bearish move towards level 98. Watch Price action at 106.3 before taking postions