On the 4 hour time frame, it shows a downward channel and price has broken out of the channel and starting to retest a key level. If price shows wick rejections and bullish sentiment, I would be buy bias. 3 different targets are plotted at 1.60000, 1.61500 and 1.62500 with a SL of 38 pips below structure. However, 1.62500 would be for longer term. A minimum total of 28% could be gained as multiple positions can be added when given the chance.
Ideas/opinions would be very much appreciated as I am new to this so any feedback will be taken into consideration!