Preference:

Prices appears to be consolidating in a head and shoulders pattern. We see potential for prices to dip from our Pivot at 113.658 in line with 38.2% Fibonacci retracement towards our 1st support at 112.993 in line with 127.2% and 161.8% Fibonacci extension.

Alternative Scenario:

Alternatively, prices may climb towards our 1st resistance at 113.923 in line with 50% Fibonacci retracement

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