Are we looking at a support-turned-resistance situation over here? the pair reach 1.1870 after breaking below a rising channel now the price around 1.200 major level. if you're one of the buyers you should wait till the price get back to the channel and test the below line again as a support. if you're looking to short 1.2000 is a good level if the price break from it and start making lower highs that signals the buyers are already exhausted and bears put pressure, if so i believe the price will dive down to 1.1870 previous lows. All the best