1) Price is now at the weekly Fib 0.618 level
2) Price is rejecting the 1.12 key
3) Technically a 4hr higher high was made so this could be a higher low and therefore trend reversal
Stop Loss is around 40 pips to leave it below previous lows through 1.12
I am targeting the previous highs at 1.15 first. The see what happens from there.
*** A Safer option would be to wait for the break and retest of the recent I have marked on the chart.***