Being contained by the upper border of the rising price channel on 4-hour chart, EURUSD pulled back from 1.3261, suggesting that a cycle top is being formed. Support is at the lower border of the channel, now at 1.3115, as long as the channel support holds, uptrend from 1.2732 is expected to continue, and another rise to 1.3350 is still possible, however, a clear break below the channel support could indicate that the rise from 1.2732 is complete, then lengthier consolidation of uptrend could be seen.

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