price recently broke out of the channel and is currently making a retest at the edge of the channel. a move back into the channel and below the immediate support level can see price reaching for the edge of the channel downwards making the trend bearish. on the other hand, price is at the 50% fibonacci retracement level. if price trades above the 38.2% fibonacci retracement level, then we should be anticipating the 1.27% and the 1.618% fib expansion levels.