Title
EURUSD H4 I Bounce off 127.2

Type
Bullish Bounce

Preference:
Price is falling toward the pivot point of 1.0678 which aligns with the 127.2% Fibo extension. A bounce from this level could lead the price to rise to 1st resistance at 1.0730, an overlap resistance level.

Alternative scenario:
If the price breaks below the pivot, it could fall to 1st support at 1.0616, below 161.8% Fibo extension

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