On the H4, with price moving below the ichimoku cloud and the descending channel , we have a bearish bias that price will drop from our 1st resistance at 2860 where the 50% Fibonacci retracement and horizontal swing high resistance is to our 1st support at 2758 in line with the horizontal swing low support. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 2945 where the 78.6% Fibonacci retracement and horizontal swing high resistance is.

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