Support/resistance line forming at Fibo extension 1.618

Take the dip of double bottom (1.1980). Extend the Fibo passing from next high point (1.2700) and then following low point (1.2100).
This extension is forming the support/resistance lines.
Fibo extension 1.000 built up 1.2820 level.
Extension 1.618 is building 1.3250 support/resistance level.