Possible formation of a fakey set up that will indicate sell

Prices broke the level 1.27186 which was a strong support level. this means that it has turned out to be a resistance level. Other reasons that may support the sell opportunity include:
1. prices have rejected the 1.27186 level which turns out to be a resistance now
2. there are inside bars which indicate that prices have consolidated in a couple of days in the lower time frames.
Prices first broke the 1.27186 level before failing to close above before they rallied down to point 1.24791. this is a possible formation of a fakey set up on which if prices close below 1.24791, we are to go short.