The pair found support at 1.2060 amid moderate optimism coming back in the market. For this reason, there is a possibility of a local pullback of the pair up, but at the same time, its growth will be limited, as investors are waiting for the ECB's decision on monetary policy, which will take place tomorrow.
Technical side:
The price is located below the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the 50% level and is moving horizontally. Stoch have entered into overbought zone.
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Trading idea:
If the pair breaks the 1.2100, it may result in further growth to 1.2160.