Option one will be shorting this pair once i get a clear sell signal at the 1.08 area. But if price breaks the resistance area , i will wait for price to retest the now support area and look for buy signals.
As it stands right now it seems like i will be going for option 2. But this might change. I will only consider this pair to be bullish if todays bar closes significantly above the 1.08 area.
Option 2 is in play. I will be looking for bullish signals at 1.08