Bearish Drop

Key Levels:
Resistance: 1.2195
Pivot: 1.2076
Support: 1.1980

Preferred Case:
On the H4, as the DIF is crossing below the signal line and MACD histograms are below zero, we have a bearish bias that price may drop from the pivot at 1.2076 where the overlap support, 38.2% fibonacci retracement and 78.6% fibonacci projection are to the 1st support at 1.1980 in line with swing low and 61.8% fibonacci retracement.

Alternative Scenario:
Alternatively, price could rise to 1st resistance at 1.2195 where the overlap resistance is.

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