The pair began to consolidate waiting for important data on employment in the US, which will be published next Friday.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and moves horizontally. Stoch are entering the oversold zone.
Trading Idea:
If the pair holds above 1.2170, it may consolidate in the range of 1.2170-1.2260 during the day.