The price seems to have broken out the resistance level of this bearish channel. The price is currently forming a bullish channel as it breaks out the channel. The price is touching the resistance level of the bullish channel and looks like it may move down from here, this has also been confirmed by the high RSI value. I believe the price would move down from here, it is very likely that the price would move down to the previously broken resistance level, if the price is able to bounce from here it is very likely that this channel would run for a little longer and it is very likely that this pair would see bullish gains over time.
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