We have noticed that a there is a nice pattern forming on intraday charts and that can give us a good R:R ratio particularly if the H1 chart holds bullish until the 1.2770-1.2785 zone.
Our thoughts are to look for shorts around that zone and put Stop loss just above at 1.2810 as that would invalidate the pattern.
The target should be the 1.2715-1.2695 zone. Our analysis from the past week shows the same levels coming into play. Only the break of 1.2640 will give us enough momentum to reach the1.2590 level.
So for now we feel that it is best to sell into rallies particularly around the 1.2770-1.2785 zone.