Yesterday's outlook played out just as expected with a swift push up into the 123.2 figure. We will now see if pending short orders protect the resistance level and any further upside, or if buyers take control and break through it.
If 123.2 can hold we can expect to see further consolidation/downside.
If 123.2 is broken we look to the next resistance figure at 123.64 to see if that level can keep buyers in check.
I hope this offers some directional clarity on this pair.