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Price could rise towards the pivot point of 1.27362 which is a pullback resistance that aligns close to the 61.8% Fibonacci retracement level and potentially reverse from here; we could see momentum carry price down to its 1st support at 1.26573 which is a swing-low support level.
Title
Pullback Resistance at 61.8% Fibo
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Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 1.27752 which is a swing-high resistance level.
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منبع: https://www.tickmill.com/blog/pullback-resistance-at-61-8-fibo-26th-january-2024
Type
Bearish Reversal
