Bearish Outlook on EURUSD - 26th October

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On the H4 timeframe, price has recently broken out of an ascending trendline. A pullback to the key resistance level at 1.0600, which coincides with the 38.2% fibonacci retracement, could provide the bearish acceleration towards the next key support level at 1.0450, which is in line with the 141.4% fibonacci extension. Price is hovering below 20 EMA, supporting our bearish bias.