Daily: the lower boundary of the Bollinger envelopes has not been tested (1.2290), which makes further downside event likely.
H4: for today the decline is potentially limited to the zone 1.2296-1.2300 (lower Bollinger line). The dominant trend is still bearish.
H1: We mark the consolidation range within the Bollinger envelopes (1.2332-1.2365). We note a strong bearish momentum of the market.
Conclusions: decrease to 1.2300.
Recommendations: Sell to 1.2300.