This is an 8 hour time frame chart.
Possible scenario after failed attempts to move up. The moving averages were left behind, so there is no support to hold the price at higher levels. Currently, the BB bands have been pushing the price down.
Today, the BB bands are wide enough to go over the next fib at 1308.
We will use the 150ma as launching pad to access the next fib and 200ma which in turn will propel it to 1337 by NY session.
NFP due, higher maybe? 1374?
Just an idea.