Daily MA50 is where a 61.8% retracement from a move up from 1.098 to 1.124 meets and this stands at 1.1075-1.1080. Price bounced up just 7 pips above that level and I believe my entry was well timed.
On H1 chart we can already see 5 fractal pattern being formed where on the left we see 3 candles each going lower, on the right a pinbar in the middle and a bullish candle to the right. When this hourly candle closes and if it stays as is - we should be good with our buy position.
If price breaks above 1.116 - it will continue to the 1.1215-1.124 zone. Based on Fibonacci - we may see - 1.1284 and 1.134 if price spikes above 1.124 and is not rejected at 1.1251
So my suggestion would be to monitor 1.116 and take only partial profits at 1.1215 allowing higher targets to be reached.