The situation for the pair under consideration continues to emerge as expected. The price has already formed a full-fledged zigzag, which is probably wave [2] of an incipient downward impulse. In this case, we can see the resumption of the pair’s decline due to the development of wave [3] in the near future. In this case, sales become a very promising solution towards making trade transactions.

For this, it is necessary to wait for the breakout of the level which is indicated on the chart by the red horizontal line at the value of 1.2070.

Investment idea: sell 1.2070, stop loss 1.2110, take profit 1.1800.