Recommendations: SHORT positions below 1.2993 with 1.2900/820 as the next targets.
Alternative scenario: The upside breakout of 1.2993 will call for a rebound to 1.3050/115
Description: The pair trades below its resistance at 1.2993 level, as long as this level holds. Look for further losses towards 1.2900/820 levels. An hourly close above 1.2993 will reverse risks to the upside and call for a rebound towards 1.3050/115.