The price might go back to the level 1.1910 and form a bullish trap, then possibly jumping off it. Therefore, there is a possibility that a  head and shoulders pattern might form with time. This pattern may strongly signify a trend reversal:


The price has touched the 3rd point of the descending channel, therefore there is a chance of a pullback happening away from a downtrend up to the level 1.2100:


In the daily chart, the British currency is going down. We should wait and see if this currency has the potential to get back to the level 1.3265, and assuming it may happen then there is a possibility that a pullback could happen away from it:




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