Daily chart: the pair is heading towards the lower Bollinger band (1.2033) against the backdrop of the ADX reversal. It is possible that by the time this area is tested, the market will have a trending potential, which will open up very ambitious goals from bellow for sellers.

Н4: strong support zone 1.2085-1.2087 is under load – ADX is in a strong zone in favor of sellers. It makes the scenario of a breakout and further decline highly probable.

Н1: the intraday trend potential of ADX is not too strong yet, which may result in an interim consolidation within the range of the lower Bollinger envelope (1.2076-1.2100).

Conclusions:
The main scenario is a decline to 1.2033.
An alternative scenario is flat in the range of 1.2076-1.2100.
Trading decisions: sales by 1.2033.