Today's price action and indicators shows that the pair may continue down towards 1,2150 although friday was slightly oversold. Shorts are valid while price remains below 1,2350.
Support 1,2150 is on the eye to go long for a pullback.
Remember to do your homework and take your own decisions. THIS IS NOT AN INVESTMENT ADVICE.
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CORRECTION: On the chart you should read: SHORT WHILE BELOW 1,2350
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If you are short you are doing well. Level 1,2350 is moved to 1,2301 to stop shorts.
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From now on after 1,2301 was touched I go from shorts to longs. Any dip represents a buy opportunity. Even if price falls towards 1,2150 would be a good price to buy for a spike.