It is very interesting chart. There is a very visible GAP on Daily chart which was respected by market recently. I would say this solid support should sustain the pair above this level and I would look for ABCD pattern where AB=CD. I'm not sure if correction will hit 50% again but even with this value we have good risk/reward ratio. I would set SL just below GAP and TP close to D point.
Support like this is rare and combination of 50% retracement with GAP making it very reliable also market seems to respect this level.
Support like this is rare and combination of 50% retracement with GAP making it very reliable also market seems to respect this level.