Preference:
Price is reacting in between the descending channel, signifying overall bearish momentum. We can expect price to drop from pivot level in line with 78.6% Fibonacci retracement and 127.2% Fibonacci projection towards 1st Support in line with 78.6% Fibonacci projection and overall graphical support.
Alternative Scenario:
Alternatively, price could push upwards to the 1st Resistance in line with 161.8% Fibonacci projection.
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