The pair is in a 30 pips range for the day
Buyers tried to make a run for it to the topside, but stalled at the highs of 1.2325 before settling back down to the 1.2310 level.
It pretty much looks like we'll be doing battle around the figure level for today as we have a large option expiry at 1.2300.
Personally, it's not a pair I fancy trading at the moment as I view the bigger picture being very much in a consolidation phase between 1.2200 - 1.2500.
But we are seeing a wedge formation starting to form on the daily chart and that will be one to watch out for:
