Upward technical correction mar reach middle Bollinger band (1.2235). At the same time overall downward potential of the market preserves: lower Bollinger band stands at 1.1185.
Local upward potential grows. The closest target of bulls is pivot-zone 1.2151. In case of break of this level we might expect further growth of the quotes towards 1.2235.
On hourly chart we also observe bullish consolidation of the market inside upper Bollinger bands (1.2100-1.2151).
Main scenario: Flat in the 1.2100-1.2151 range.
Alternative scenario: Break above 1.2151 and growth towards 1.2200.
Longs from 1.2100 to 1.2151 and 1.2200.