EURUSD testing pivot. Potential for a bounce

Price is testing our Pivot at 1.20851. We expect a medium probability bounce and a further rise from our pivot towards our 1st resistance at 1.21231. Otherwise, a break below the pivot should see price swing towards 1st support at 1.20501.

Pivot: 1.20851
Supporting Points:
23.6% Fibonacci retracement, 38.2% Fibonacci extension and graphical pullback support

1st Support: 1.20501
Supporting Points:
61.8% Fibonacci retracement, 161.8% Fibonacci extension and graphical pullback support

1st Resistance: 1.21231
Supporting Points:
127.2% Fibonacci extension and graphical overlap resistance

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