The trend is downward.

On the 4-hour chart the downward momentum within the wave C of the higher level is developing. Locally the third wave of the lower level ( iii             ) of iii             of C, within which the lengthening is forming, is developing. If the assumption is correct, the pair will fall to the level of 1.2430. The level of 1.2780 is critical for this scenario.

Trading tips

Sell the pair during the correction below the level of 1.2780 with the target at 1.2430.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.2780 will let the pair grow to the level of 1.3000.
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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