The daily chart posted a reversal pattern at 1.2400 and after rallying to 1.3200, it posted an imperfect double bottom at 1.2475. This nevertheless looks like a strong basing pattern and as you can see from the attached chart, the short-term MAs have turned bullish and are crossing the 100 and 200-day. As this is a longer-term trading set-up, it really needs a strong daily close well above 1.3200 for confirmation.