Recommendations: SHORT positions below 1.3045 with 1.2970 & 1.2940 as next targets.
Alternative scenario: The upside breakout of 1.3045 will call for a rebound to 1.3080/1.3115
Description: The pair are already found resistance at 1.3045. As long as this level holds. Look for further downside losses towards 1.2970/40 levels. An hourly close above 1.3040 will reverse risks to the upside and call for a rebound to 1.3085/115 levels.