The market has formed a double bottom pattern at a significant support level following a downward extension.

The price has made a three-point move within the range zone.

After testing the support level, the market successfully rebounded from it.

Although the overall market trend may appear to be bearish, a closer look at the 4-hour timeframe reveals a ranging market condition where the price has reached the lower boundary.

Based on this analysis, I anticipate a potential upward movement from the support level.

Therefore, my target is set at the resistance level around 1.10155.

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