Current situation: the pair is currently trading the range between monthly support 1.27108 / resistance 1.19620 levels and has begun concilidating in a wedge.Depending on how price behaves towards the rising support, a break and re-test should see price move bearishly with the monthly support at 1.19620 as its target. An area to watch for potential support is the Weekly support zone at 1.23300. NOTE: No entries will be made until markets re-open on Sunday night.