Strong support + Lower low (Multiple TF analysis)

On this pair, price has struggled to break through daily support (110.757) which I am assuming could lead to a strong bullish reaction. If we look at the daily timeframe for this pair, a lower low has been created in the current downtrend which also suggests price could now be ready to rise. I will be trading this up to the major daily trend line. We may have a few fib retracements which I will be looking for opportunities to re-enter the trade to gain more pips.