Daily chart: the pair is preparing to test the middle Bollinger band (109.01), from where active sales can be expected. There are several reasons for this: this is both a “round” psychological level, and the presence of O&U and GiP reversal patterns. However, traders need to wait for a confirmation signal, inasmuch as the bottom envelope has not been pierced before.

Н4: the bullish trend potential remains locally, therefore, the 109.01 zone may remain under the buyer’s pressure.

Н1: the hourly chart shows the first signs of overbought, and the ADX has already turned down. Therefore, the signals to sell, formed in the area of 109.01-109.07, will have a high probability of working out.

Conclusions: growth to 109.01-109.07, then a downward reversal to 108.66.
Trading decisions: sales from the zone 109.01-109.07 to 108.66.