EURCHF approaching resistance, potential drop!

EURCHF is approaching our first resistance at 1.1955 (horizontal pullback resistance, 38.2% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.1925 (horizontal swing low support, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure, in line with our bearish bias.
RSI (89) is also approaching our major resistance and a reaction off this level might be a good precursor for a potential drop in price.
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Chart PatternschfEUREURCHFeurchflongeurchfshortForexforexsignalsforextradingHarmonic PatternsTrend Analysis

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