We are looking at a 5 waves progression and we are currently on the 4th wave which just completed a mini-wave a.
I can't really say for sure, but judging from the correction of wave ii which was about 78.6% of wave I, I would say wave iv has already reached its low (1.17056), which is at 61.8% of wave i - iii.
We should be expecting a complex wave iv correction, so the price should be bouncing within 1.23513 and 1.17056 for a long time.
Currently, I believe the mini-wave b of wave iv is unfolding, so we should be seeing the price push higher to 1.20304, and 1.21071 in the next couple of days to weeks.