Recommendations: Long positions above 1.2967 with 1.3030 & 1.3060 as next targets.
Alternative scenario: The downside breakout of 1.2976 will call for a slide to 1.2920/1.2860.
Description: The pair already found support at 1.2976. As long as this level holds. Look for further gains towards 1.3030/1.3060 levels, an hourly close below 1.2967 will reverse risks to the downside and call for a slide to 1.2920/1.2860 levels.