Now price is on move and it's going to retest neck line between 1.2065 - 1.1940.
There is more reason to go short from this level.
For example 0.5 - 0.618 .
We can not forget that we are in big down trend since July 2008 which is another reason to go short.
For me only if price will break 1.24 - 1.22 area we will can look for long oportunity in long term.
R/r = 1:2.84