Title
Heading into Pullback Resistance

Type
Bearish Reversal

Preference:
Price is rising towards the pivot point of 1.2567 which is a pullback resistance level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 1.2477 which is a pullback support that aligns with the 38.2% Fibonacci retracement level.

Alternative scenario:
If price breaks above the pivot point, it could hit the 1st resistance at 1.2618 which is a pullback resistance that aligns close to the 78.6% Fibonacci retracement level.

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