Title
Falling to 61.8% Fibonacci Pullback Support

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 85.65 which is a pullback support that aligns with the 61.8% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 90.69 which is a pullback resistance level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 81.64 which is a pullback support that sits below the 50.0% Fibonacci retracement level.

To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.