Potential Bearish ContinuationPreferred Case: on the H4, with price moving in a descending trend channel and moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 80.73 in line with the 78.6% fibonacci projection and swing high to the 1st support at 76.83 in line with the horizontal swing low and 78.6% fibonacci projection.
Alternative scenario: Alternatively, price may reverse off the pivot and rise to the 1st resistance at 84.40 in line with the swing high.
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