The price of the pair in question, as well as in the case of EUR/USD, spent the entire last trading day in a fairly small price range, probably forming a correction, which is the second wave of the upward impulse.

Then, in the near future the price may resume its upward movement. In this case the development of the third wave will begin, which may immediately update the maximum established by the wave [iii]. It looks quite promising, therefore it is recommended to consider the possibility of making buy deals when the current local maximum is updated.

Recommendations: Buy 1.2210, SL 1.2190, TP 1.2550.