After the falling from 1.234 resistances, the pair could gain momentum breaking 1.222, 1.2165 and falling back under the psychological level at 1.2. The trend line support is at 1.186 and also it is the 66.8% Fibonacci retracement of the rise from 1.078 to 1.2935. We can be under this trend line support easily to test 1.175 again. The pair has faced a strong support recently at this level and has formed a double bottom to 1.234 before it falls back again from it. This side way trading can continues between 1.234 and 1.175 till one of them falling but the pair now has gained momentum to break 1.175.
We recommend selling the pair to 1.18 stop loss at 1.222

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