The situation with this currency pair is similar to what is currently observed with the EUR/USD pair. After updating the local high, the upward movement paused, and the price began to retrace. This minor decline is likely part of an ongoing internal correction. In such a case, the price may start to rise again soon, continuing the formation of wave 3 of the upward impulsive movement.

In this situation, it is recommended to open buy orders upon updating the current local maximum. The target for the movement is at the level of 1.2900.

Recommendations: Buy at 1.2700, SL at 1.2675, TP at 1.2900.