Price is bouncing off the 1.2 as well as the lows of the . Look for buying opportunities with targets at 1) previous structure highs 1.127x 2) 127.2% extension at 1.129x. Buy retracements if price trades towards the channel highs.
If I am a bear?
Price seems to be supported at the 1.2 round number which is also previous resistance that turned into support. We are also at the low. I would wait for a strong break down and a weak retest of this zone before considering short opportunities.