As you see in the 4H chart, after a sharp downtrend, price made a bullish reversal wedge pattern and broke it to the upside.
Currently, price is bouncing in a little descending channel and has been pushed to the upside after approaching to the yesterday’s low at 1.1830 (S1).
MACD shows a positive hidden divergence.
On the other hand, there is a strong resistance level at 1.19 which is around the weekly and monthly highs.
First of all, I expect a rise to the channel’s upper band and if price could break 1.19 and close above it, we can expect more rise to 1.1970 and then 1.2050