Daily: the pair remains within the upper Bollinger envelope. The upper Bollinger band (1.1668) has not been tested yet, so it remains one of the probable events.

H4: The pair met strong resistance in the zone of 1.1586-1.1600. We are waiting for the demand in the support zone 1.1400-1.1434, where the cluster of the Bollinger middle lines is located.

H1: Another test support is at 1.1487 (lower Bollinger band). A deeper correction, as you can see, would threaten to reverse the trend down through the Head-and-Shoulders pattern.

Scenarios:

• Main – decline to 1.1400-1.1435.
• Alternative – rebound up from 1.1487.

Recommendations: search for possible signals to Buy in the areas of 1.1487 and 1.1400.