As seen on the 4h chart there is a possible a rising wedge possiblity. Weekly chart's descending channel is just over the price, 1.20 level is very important because of EU's new Euro decisions. I am expecting both yellow and red downward lines will be strong resistances. Thats why must be resdy to a possible reversal in a short time. If the wedge woorks, after the confirmation 1.60.. should be the target of formation.
In comments you can see, weekly and daily views, please check it.
I welcome comments and likes. thanks in advance. .......................................................................... Disclaimer: The given information on the chart and comments are not a Financial Advice. Be carefull abaut your risk assessment and always use stoploss...!!! ..........................................................................