Daily: the pair remains in the upper Bollinger envelope and therefore has the opportunity to continue growth to the upper boundary of the range (1.2333). However we do not see a sufficient trend potential of the ADX, which may return prices to the middle area (1.2051-1.2104).

H4: 1.2051-1.2104, where the daily and H4-median Bollinger Bands cluster is located, seems to be a promising area for buying. The upper line is more than 100 pips above the current price (1.2271 vs. 1.2062), which will encourage rise towards this level.

H1: The lower boundary of the Bollinger envelopes within the day is at 1.2129. The bulls may defend it rather aggressively today.

Conclusion: Downside to 1.2129, then growth continuation towards 1.2273.

Recommendations: Buy from 1.2129 to 1.2273.