Potential Bullish Reversal

Title
Potential Bullish Reversal

Type
Bullish Bounce

Preference:
Price is falling towards the pivot point of 81.212 which is a pullback support that aligns close to the 38.2% Fibonacci retracement level and could potentially reverse from here; we could see momentum carry price up to its 1st resistance at 83.272 which is a pullback resistance level.

Alternative scenario:
If price breaks below the pivot point, it could hit the 1st support at 80.093 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level.

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Source: Tickmill

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Potential Bullish Reversal

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