Now, if institutions will want to push it till the psychological 1.20, then a break and close above 1.18455 could mean that this pair isn't ready to give up.
I am leaning more to the downside to re-test this steep that it has formed. The level would be around 1.17768 . If we would break that, then there is that May 2016 high and a lower.
This is just an idea, so if you're planning to go in, then I suggest try to have good stops.
Keep an eye on the price action!