The pair continues to consolidate in the range of 1.2170-1.2260 due to expectations for the important data on employment in the US, which will be published on Thursday by ADP, and on Friday by the US Department of Labor.
Technical side:
The price is located at the level of the middle Bollinger band, below SMA 5 and SMA 14. Moving averages give a sell signal by crossing. RSI crosses the 50% level and also gives a sell signal. Stoch are entering the oversold zone.
Trading idea:
The pair may consolidate today in the above range. Buy from the lower limit of this range.