On the daily chart, the growth continued, the pair reached a new high, but it is also clear that this movement is slowing down. On Thursday, a small "shooting star" formed, the candle on Friday may also have an upper shadow. The very size of the growth wave from 1,2300 is already quite large - 350 points, while the pullbacks were only small. The pair is already close to a strong resistance at 1.2700 (it showed up well in September). For these reasons, the pair may be in the trend completion phase, and the probability of a pullback increases. According to directional movement indicators, the trend is growth: DM+ is higher than DM-, the MACD histogram is in a positive zone, the MACD line has a positive slope.
On the four-hour chart, the pair received support from the previously overcome level of 1.2600. This confirms the continuation of the trend. The sequence of growth of the relative highs and lows of the pair is also preserved. Nevertheless, a well-marked bearish divergence of the pair's highs and the MACD histogram was formed. This makes further growth difficult, given the proximity of strong resistance at 1.2700, increases the likelihood of a pullback. Although there was no confirmation of the bearish divergence signal. The pair is in an upward-pointing triangle, and its lower border is near the support level of 1.2600 (thus, support is strengthening here). From the point of view of this figure, the exit from the triangle is more likely to go up. Rather, it is worth acting in the direction of the exit either above 1.2655 or below 1.2600.
Resistance levels: 1.2655; 1.2700
Support levels: 1.2600; 1.2500