For the last month, however, it's been in an uptrend. It broke a downward , and most recently it's formed what looks like a . Short interest is high, setting up the potential for a short squeeze. That tells me this could see channel top again in the relatively near future at 1.29 or above.
There's support at 1.02, so that's a good price to buy with stop limit at 1.01. Alternatively, you could hold out for a purchase closer to channel bottom with below-channel stops.
As always, this is simply an idea as to how the market will move, not investment advice.