As I’ve favored the last few weeks, the triangle that has been underway since October is probably complete at 1.2020. The breakout scenario is favored as long as price is above 1.2348. Near term, there is potential support in the 1.2677-1.2722 zone. This is a reaction low from yesterday as well as former resistance. This is an area that one could add to longs or even initiate a long position if late to the game.
