Most Likely Scenario: short positions below 1.2225 with targets at 1.2160 & 1.2135 in extension.
Alternative scenario: above 1.2225 look for further upside with 1.2245 & 1.2265 as targets.
Alternative scenario: above 1.2225 look for further upside with 1.2245 & 1.2265 as targets.