The pair continued moving to the downside and is trading around 1.2280, as breaking this level and stabilizing below it extends the downside move in the coming period targeting 1.2200 and 1.2165 and 1.2110, while trading below 1.2300 is negative and support the expectations.
On the other hand, trading within the descending channel showing on graph shows negativity and favors extending the bearish wave, while a break above 1.2400 threatens to fail the suggested expectations.