Price has broken through the strong key level of 1.2700, pulled back and retested. The 18 EMA acting as a resistance and pushing price down now as price has just retraced to it, could possibly expect a spike up to maybe push up/through the 1.2700 level before price heads down. Price heading for previous low. stop top placed 15 pips above 1.2700 which is also above descending trendline