Preference:

Price is abiding to the descending trendline resistance, signifying overall bearish momentum. However, we can expect a short-term bullish bounce from the pivot level in line with 61.8% Fibonacci projection towards 1st Resistance in line with 78.6% Fibonacci projection.

Alternative Scenario:

Alternatively, price could push further down to the 1st Support in line with 78.6% Fibonacci projection.

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