I have add this chart to explain some important points,
1- There is some confusion here,because we can thought the Pairs is formulated reverse Pattern and suppose such Pattern works as a signal for reverse but my opinion it is not , So here we can say pairs works in a confusion area for any technical analyst ,confusion to place long position or short .?!!! As we learn once you got such feeling,you have to wait and don't go long or Short once the view is not clear enough.OK(as we are here) this is first thing and very important.
2- In other side,i can see very positive view, You can see the Uptrend line (Red Line) and the Pairs has been rebounded when it touch it for a 3rd time,that's very positive cause it told me that , The trend line is confirmed to work as "Buy Line" and Strong Long Signal has been generated and LONG POSITION IS A MUST HERE.
3- As i have explain before level of 1.36 is playing as Key life for such pairs to go intact in their UP Trend,once the Pairs works above such level.This level works as very very strong support(Pairs reject from this level as you see on chart,Pairs -Re tested now and rebound).So LONG position here is A must. In general we always BUY near Support areas(As we are here now).
So in brief, my point of view, The Up trend still intact and I will place long Position NOW and place Stop loss down there at 1.3615( Black Line).Hopes that help AncientM,,,:)..****GL****