The market has faced rejection three times at the resistance level, indicating a lack of sufficient bullish strength to break through.

This suggests the possibility of a deeper pullback for further accumulation.

The market is currently struggling to establish a new high and is moving towards a support level.

Based on my analysis, I anticipate a price decline from the resistance level following a breakout of the channel.

Therefore, my target is set at a support level around 1.08800.

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