As expected, the lightweight bearish correction from Wednesday was only temporary. On Thursday, we saw renewed demand below the 1.2800 level, and although the bullish outcome was not particularly long, rejecting the lower values was almost restored. This holds the “cable” over the 200 MA.
Countering these positive facts, the price movement in the currency pair met support from investors during the Asian session of Friday. Conflicting signals indicate that timely analysis should be done with caution, although at this point I expect the corrective movement to deepen, forming lower bottoms.