Price is testing a key support level at 1.1246 which is an overlap support along with a 38.2% Fibonacci retracement . A bounce from here could see prices rise up to the next resistance level at 1.1356 which is a strong overlap resistance.

In terms of stop loss, we're eyeing 1.1192 which is below a recent market movement - this gives a healthy R:R of about 1:2.