Yesterday's selloff in part due to active cross selling versus yen and sterling suggests the correction from this week's low at 1.2706 has ended at 1.3071 and downside bias remains for another fall towards 1.2760/70, however, aforesaid support at 1.2706 would on first testing due to anticipated oversold condition.  
A breach of resistance at 1.2935 would prolong choppy trading above 1.2706 and risk gain to 1.2980/90 before prospect of a pullback.