In response to the dovish switch of the ECB, the cross breaks finally down its centralizing trading line for two days and slide to fresh lower one-week periods.
In the 1-hour chart, technical indicators also point to a marginally oversold situation and appeared to be the only factor that helps the cross reach a level of about 50% Fibo.
In the meantime, oscillators of the 4-hour diagram just began sliding into the bearish and seemed to lose good momentum on the daily graph, pointing to further downside.
Consequently, a successive sale can proceed to push the pair to challenge its next important support near the center of 125.00, which coincides with Fibo level of 61.8%.
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