Daily: the pair moved into the downward correction phase, which may well become a full-fledged reversal. The upper Bollinger band (1.2357) was tested, which can be considered as the culmination of the bullish movement.

H4: The pair is traded within the lower Bollinger envelope, which will encourage the further drop to 1.2094 (lower Bollinger band).

H1: The nearest intraday downside target is 1.2134 (lower Bollinger line). It cannot be ruled out that the bears will also be able to test the round level of 1.2100, which can be considered as the same zone as the lower boundary of the envelopes.

Conclusions: decline to the zone of 1.2100-1.2134.

Recommendations: Sell to 1.2134 and 1.2100.