The pair is trading above the support level of 1.1765. It’s highly likely to start correcting, since all the strong reasons for growth have already played out. From the technical point of view, the pair is noticeably overbought and any positive trends for the USD can push it down.
Technical side:
The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI turns down under the overbought zone. Stoch indicate a weaker growth. The oscillators show divergence between the price and indicators.
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Trading recommendations:
If the pair falls to 1.1765, it will be likely to correct to 1.1700, or even further down to 1.1635.