Pivot (invalidation): 1.2420

Our preference Short positions below 1.2420 with targets at 1.2275 & 1.2200 in extension.

Alternative scenario Above 1.2420 look for further upside with 1.2480 & 1.2525 as targets.

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Comment As Long as 1.2420 is resistance, look for choppy price action with a bearish bias.

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