My thinking is it will continue to be in the shorter term to reach the lower side of the . I think it will break and then retest the at 1.21140 then reach the bottom of the channel somewhere around 1.19230.
Given the lower channel is in a similar area to the support I think when it hits this area it will turn to remain in the channel and ultimately remain .
My entry is 1.211440, I have sent my SL at the point of the latest high plus room for movement which I have used the ATR SMR 20 given me a SL of 1.21904. I have then set TP 1.19491 which is playing it safe above the lower / resistance.
Lt me know what you think