Daily: the pair is consolidating near the middle Bollinger band (1.2434). Judging by the continuing correction of the ADX indicator, this trend will continue.

H4: The bears have some space up to 1.2363 (lower Bollinger band). However, we do not see any trend potential for such a move at the moment.

H1: an attempt to break through the lower Bollinger envelope is unlikely to be successful – there is low ADX potential on all timeframes.

Conclusions: flat in the range of 1.2400-1.2434.

Recommendations: trade in the range of 1.2400-1.2434.