Daily chart: the next breakdown of the upper Bollinger envelope is taking place against the background of the growth of the ADX indicator. On the one hand, there is a high probability of growth by another 50 points to the 110.51 area. On the other hand, growth may be hindered by the resistance of 110.00, where we can consider a downward entry within the medium-term O&U pattern.

Н4: locally, the pair is very overbought, so the ability of the bulls to attack above the resistance of 111.25 is also in doubt.

Н1: multiple bearish divergence of the RSI oscillator is clear signs of the de-energized bullish front. The upper Bollinger band is still in the 111.25 zone, so a short-term update of the maximum can be expected, followed by a downward reversal.

Conclusions: growth to 111.25, then decline to 110.84.
Trading decisions: sales from the area 111.25 to 110.84.