Consumer Price Index and Retail price index data have been released in the UK and the US will publish Crude Oil Inventories.
The support rests at 1.22420 with resistance at 1.24120 which both lines are below the weekly pivot point at 1.25210. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is rising towards 50 level, the Stochastic is moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is not showing any clear signals.
The support level breakthrough will push the price down towards 1.21460; otherwise, the price has already reached the lower Bollinger band, it might grow towards the middle band at 1.24150.

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