Estimated pivot point is at the level of 1.3347. 

Analysis: Supposedly, a descending impetus continues to develop within the 4-hour time frame in a form of the first wave i of C. Apparently, the third wave of junior level (iii) continues to form locally. If the presumption is correct, the pair will go on descending to the levels 1.3000 - 1.2964. The level 1.3347 is critical in this scenario. 

Alternative scenario: Breakout and consolidation above the level of 1.3347 will allow the pair to continue rising to a level of 1.3560. 

Our opinion: Sell the pair from correction below the level of1.3347 with the targets at 1.3000 - 1.2964. 




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