Preference:

Prices are consolidating in a bullish wedge pattern. We see potential for a climb from our Pivot at 1.27956 in line with 61.8% and 161.8% Fibonacci Projection towards our 1st resistance at 1.28537 in line with 127.2% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 1.27445 which is an area of Fibonacci confluences.

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