Euro trade - based against a call option

So market's been fairly quiet during Asian session. Europe just opened up so we are seeing a little movement downwards in the Euro and Cable.

I'm still unsure about entering into a proper trade so for now i've left an order to buy EUR/USD at 1.2885.
my reasoning: Euro still looks very bullish, and i have an option coming up next month which is in slight danger.

So here's what i figure i'm gonna do with this position if it gets triggered.

i'll forward it to the delivery date of my call option which i sold at 1.2700.
If between then and now, i feel that sentiments for Euro has changed towards bearishness.
i shall come out of this position.