Preference:

Price abiding to the descending channel, signifying a bearish momentum. We can expect price to drop from pivot level in line with 38.2% Fibonacci retracement towards 1st Support in line with 61.8% Fibonacci projection.

Alternative Scenario:

Alternatively, price to push up to 1st Resistance in line 38.2% Fibonacci retracement and 100% Fibonacci projection .

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