IMO, the Chart only brightens, if the Pair is trading above the last High at 1.32.
The youngest move from 1.2640-1.2850 has an corrective character from the downmove before. The correction reached till the 0,38 dibo-retracement. here at the minimum correction level, we can exspect a trend reversal, so the next TP could be near the neckline at 1,25.
Below the neckline, you can exspect a fast downwave.
In my chart i illustrate these 3 different views.
The youngest move from 1.2640-1.2850 has an corrective character from the downmove before. The correction reached till the 0,38 dibo-retracement. here at the minimum correction level, we can exspect a trend reversal, so the next TP could be near the neckline at 1,25.
Below the neckline, you can exspect a fast downwave.
In my chart i illustrate these 3 different views.