Type:
Bullish Bounce

Key Levels:
Resistance: 1.26974
Pivot: 1.26042
Support: 1.2564

Preferred Case:
With price moving above the Ichimoku cloud, we foresee potentially a bullish bounce that price will bounce from our pivot at 1.26042 which is in line with horizontal swing low support and 38.2% Fibonacci retracement to 1st resistance at 1.26974 in line with the horizontal swing high resistance.

Alternative Scenario:
Alternatively, price may break pivot structure and head for 1st support at 1.2564, in line with 50% Fibonacci retracement and horizontal swing low support.