Price is trading in the red on the short term and tries to retreat after the minor rebound. Technically is expected to drop aggressively in the upcoming period if will really fail to retest the upper median line (uml) of the descending pitchfork. Now is pressuring the 1.2460 static support (resistance turned into support).
Could reach also the median line (ml) of the blue ascending pitchfork, a valid breakdown below this obstacle will announce a further drop. Only a valid breakout above the upper median line (uml) will signal a further increase.