Two possible scenarios Mid Term Long or Short?

I have been paying attention to this pair over the last 24 hours and as you can see this pair is coming to a critical stage...

Either A it holds the support at around 1.247 - 8 and goes higher or a further breakdown occurs to a suggested area on the chart.

I strongly believe that long term this pair will be long as it broke a very strong downtrend and now it is testing it. The next 4 hours will be crucial and will depend on which direction I will go with this pair.

What are your thoughts?