Recommendation:LONG positions above 1.3300 with 1.4000 & 1.4500 as next targets.
Alternative scenario: The downside breakout of 1.3000 will open the way to 1.2660/1.2000.
Description: Bullish momentum breakout has been completed on the monthly chart at 1.3616, this scenario suggests further gains to 1.4000/1.4500 levels, but also bearish correction to 1.3000/1.3300 levels is suggested before resuming the bullish move to 1.4000 levels ,If seen, we can watch the daily or the weekly chart around these levels anticipating rebound to enter long. However keep in mind that the long term trend is bullish as long as the pair trades above 1.3000 levels, losing this level will invalid the bullish view and reverse risks to the downside and target 1.2600/1.2000 levels..
You may read this post, It supports this view: