Price has been consolidating in a very tight range after breaking a channel illustrated clearly on the chart, arguably forming a bearish flag which may break down to entirely break structure offering profitable short positions. Furthermore, the 200EMA on the hourly chart (and daily) is showing bearish momentum. Alternatively, price is rejecting this lower resistance level and has been for a relatively long period of time. Overall, price has potential to move either side of this key area of resistance and the movement is likely to be very strong in either direction due to the illongated period of consolidation.