A bearish divergence means the chart shows rising price, but the indicator highs, in this case the RSI highs are flat or declining,this suggests a lost of momentum, it should be noted that divergences can be extended in a trending market especially with high volatility pairs  !!!

Well, the extended bearish divergence is a bullish reversal in short term suggests further gains before   possible (final) topping !!

In our case , an hourly closing above 1.2443 is indeed to confirm the extended bearish divergence , in this situation the next top is suggested around 1.2500 , passing this level would take us toward 1.2700 where  the next top is also suggested before resuming the downtrend !!!

But in return , losing 1.2340 with a clear break below this level would confirm the top at 1.2443 and It would ( delay / cancel) the bullish scenario , also It would open ways to test 1.2170 zones....

Notes:

1- The daily Williams suggests possible test to 1.2330 zone before testing 1.2500 !!!

2- Strong fluctuation is suggested around the psychological level 1.2500 !

Best Regards

Haitham