Rising into 127.2% Fibo extension resistance

TitleRising into 127.2% Fibo extension resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.67357 which is a pullback resistance that aligns with the 127.2% Fibonacci extension level and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.66146 which is a Pullback support that aligns with the 50.0%% Fibonacci retracement level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.6792 which is a resistance that aligns with the 161.8% Fibonacci extension level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.