EurUsd lacks continuation

After the channel break to the downside, I was bearish EurUsd and, indeed, the pair dropped around 50 pips after I opened a sell position
Although EurUsd didn't become bullish yet it lacks continuation south which puts me in a stand by mode.
At this point, we are in a range with 1.17 support and 1.18 resistance and until we get a clear break of these levels is better to sit on the bench.
We must not ignore the fact that the long term trend is strongly bullish and if today's close is above 1.1750 we have a confirmed higher low for this pair