Price has ran into a strong-ish sell zone and has reacted well. Look for price action signals for a potential short back to one of the demand zones. I do believe 1.261 is a reasonable end target.
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This doesn't meet with my criteria exactly and so I won't be taking this trade myself.
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If you've taken this trade, it may be wise to take TP1 from this area.
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Take TP2
Trade closed manually
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Although I'm bearish on this pair, the 4hr is making higher lows.
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I closed the trade already on Feb 8th but the target was reached 24hrs later.