Check also this two posts for other fundamental and technical views:
1.2992 first resistance
If the price goes below 1.2885 i would look to see a touch of the rising daily trend line and test the lows above 1.2800. A daily close below 1.2800 would turn my medium-term technical bias to bearish.
Trend (based on HH, LH, HL, LH):
And remember .. any SR level could turn the price. Combine the SR levels with fibs and you get strong potential turning points.