1h price action looks like it could head down to the 1.0710 area before heading bullish again but on 4h it doesn't look like it would form the same which is what led me to draw the possibility which does not retrace down to the 1.0710 zone. Momentum has formed a lower trend line and also held above -0.0034. As long as momentum holds above this level it is a safe trade but a break below could open up the bottom side and enable the 200 EMA (blue) to act as a TP