Price found first indication of support at ~106 and now bound by 110.12 (Fib 1.618) It will be very bullish if price broke out of 110.12 (bull flag) inside an uptrend channel, but take note that a fake out to retest 106 level is not rule out.
To me bull flag in uptrend channel is a indication of uptrend continuation just like bear flag in downtrend channel an indication of downtrend continuation, of course there will always one or two exception.