Preference:
Price broke out of the descending trendline resistance, signifying a bullish momentum. We can expect price to bounce from pivot level in line with 23.6% Fibonacci retracement towards the 1st resistance in line with 127.2% Fibonacci projection and 161.8% Fibonacci retracement.
Alternative Scenario:
Alternatively, price could reverse back down to the 1st Support in line with 38.2% Fibonacci retracement.
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