to 1.06?

I was just looking at this chart and was thinking if it could be a possible scenario. I checked on 1H and 4H charts and could not find any strong reversal. Just at 1H there was a bottom and then it corrected at the moment just to the line it broke down. There is a divergence only on 4H chart, but not on 1H.

I am not in the trade yet, but feel free to comment your ideas.