Preference:
Prices are consolidating in a channel. We see the potential for a pullback from our Pivot at 114.474 in line with 127.2% Fibonacci extension towards our 1st support at 113.802 in line with 61.8% Fibonacci extension and 50% Fibonacci retracement. RSI is at a level where pullbacks have occurred previously.
Alternative Scenario:
Alternatively, prices may climb towards our 1st resistance at 114.86 in line with 161.8% Fibonacci projection.
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