Buy above 1.2629. Stop loss at 1.2561. Take profit at 1.2909.
Reason for the trading strategy (technically):
Price has made a breakout and we’re looking to buy on dips above 1.2629 support ( , horizontal overlap support) for a bounce up to at least 1.2909 resistance ( , horizontal swing high resistance). We do have to keep an eye out on intermediate resistance at 1.2750 which price has already reacted off nicely once. Only a break of that level would trigger a bigger move up to 1.2909.
(34) sees an intermediate ascending support hold up its momentum really nicely, but we’re also seeing major resistance at 61% which needs to be broken to trigger a stronger upside move.