If the price breaks below 1.1150 the trading idea must be reevaluated because the most inmmediate downtrend must be redrawn ... lets see how it goes
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The risk is below the Last Swing Low
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At this point one could expect two things:
1 ) A possible movement around the upper limit of the trend channel area, place that also concur with a more consolidated down trend line of a higher time frame (look at the daily)
2) If the price fails to find followers to the upside, a break of the up trend line (Lower limit of the uptrend channel) could show a signal of weakness an the long position must be evaluated closely