Pivot: 1.2475
Our preference: Long positions above 1.2475 with targets @ 1.258 1.261 in extension.
Alternative scenario: Below 1.2475 look for further downside with 1.244 1.24 as targets.
Comment: Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair stands above its support.
Supports and resistances:
1.265
1.261
1.258
1.2516 Last
1.2475
1.244
1.24
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