Analysts at UOB Group explained that there is no change to their bearish view, but as highlighted previously, downward momentum is not very strong.
"the downside potential is likely limited to 1.1145. Stop-loss remains unchanged at 1.1395.
Looking further ahead, this pair has to move below the strong 1.1230 support within the next few days as a prolonged consolidation above this level would lead to a rapid loss of momentum."
