Price has made a bearish engulfing on the daily time frame. On the 4h time frame price has recently bounced from a trend line dating from 13th Dec and has also just broken an ascending channel dating from 30th April. I'll be looking for bearish price action at confluence of resistance around 1.25920 on the 1 hour time frame. If i find an entry my target will be the 1.25200 area.
Correction, the channel that has recently been broken is from 1st July.