This has formed a large inverse H&S following the completion of a smaller one earlier in the week. Bears might have got sucked into what looked like a H&S top on the hourly but has subsequently failed - zooming out to the longer time frames gives us this structure shown on my chart.
The immediate target for longs here is the neckline / recent high at 1.162. I will revisit when we get there as a break above that level would open up some much much bigger targets (118+)