$PNUT is trading at 1.2219, down -1.76%, and has formed a double-top pattern at 1.2362, signaling a potential bearish reversal. The next bearish target is set at 1.1955, indicating further downside pressure.

Immediate support lies at 1.1800, and a breakdown below this level could accelerate the bearish trend. Resistance remains at 1.2362, and any upward move is likely to face selling pressure near this zone.

Traders should prepare for possible short opportunities, with tight stop-loss management to mitigate risks.

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