I believe that a pull back base has already been formed. It might try to reach 1.60 support line before going down a bit again.
I am in for long and will sell in two different phases. First will be on 1.20 and if it shows no signal of breaking down I will buy again at 1.30 and sell at 1.60 support line. If it reaches the 1.60 without any pullback, I believe it can drop up to 15% before deciding if either it will to break the 1.60 again and reach for previous higher support or go down.
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On every values that you see 1.30 or 1.60 I wrote all them wrong, there is another 1 behind then, 1.130, 1.160 etc