The resistance level of 1.2800 continued to be tested on the daily chart. It seems that it will not end well: the upper shadows of candles above 1.2800 and the absence of closures above shows that the probability of a pullback increases. The trend line has also been acting as resistance since the beginning of November, and the pair has declined from a strong resistance zone, where the trend line was close to 1.2800. The growth wave has exceeded 500 points, and this makes a pullback brewing. According to the directional movement indicators, however, only the weakening of the trend is visible so far (according to the decrease in the MACD histogram, however, it remains in the positive zone). For ADX, the growth trend remains very strong: the excess of DM+ over DM is very large at a high level of ADX. The sequence of growth of the relative highs and lows of the pair is not broken.
On the four-hour chart, we can consider the movement in the range of 1.2730-1.2800. In this case, a short-term exit above 1.2800 can be considered a false breakdown, and this increases the probability of leaving the range down. This would change the short-term picture, as a reversal would become visible. From the point of view of the levels, overcoming 1.2730 would be a signal that the support that had been manifested for three days did not stand, and the bulls succumbed to pressure.
Resistance Level: 1.2800
Support levels: 1.2730; 1.2700