Swing area between 1.2122 to 1.2131
The break has now seen the price move down to test another swing area between 1.2122 and 1.21317. The price is testing the lower extreme of that range.
With a break, there should be more selling as the traders continue to cheer the exiting of the up and down trading range (i.e. red box) that has consumed the pair since mid-May.
The lower swing area is also near the 50% midpoint of the move up from the May low at 1.21255.