In the short term, sellers have been stopped short at the red bearish resistance line.
As a result, buyers are resuming their long term dominance as indicated by the green uptrend line.
In my opinion, the market will now try to push prices back to the last high at 1.2544
In summary, perhaps a bullish recovery is on the way.
This scenario is not an investment advice
A failure of the scenario is highly possible
Do not copy it, or you risk losing your money