Preference:
Price is reacting in between a descending channel, signifying an overall bearish momentum. We can expect price to drop form pivot level in line with 38.2% Fibonacci retracement toward 1st Support in line with 78.6% Fibonacci projection.
Alternative Scenario:
Alternatively, price could push up to 1st Resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci Projection.
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