H4: Following a brief period of corrective growth, the pair is currently consolidating near 1.1248, remaining capped by the key resistance zone of 1.1275–1.1285. The inability of bulls to push price action above this barrier signals a fading recovery momentum and increases the likelihood of a fresh bearish impulse within the primary downtrend.

As long as quotes trade below the 1.1280 pivot, the bearish bias remains dominant. The immediate downside objective is located in the 1.1180–1.1190 region, which serves as a potential support zone based on recent market structure. A sustained break above the resistance level would invalidate this bearish outlook and suggest a broader recovery phase.

Trading Decision: SELL 1.1245, SL 1.1280, TP 1.1185