Anticipated gains have extended to congestion resistance at 0.7050
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7187 | ** | 11 Mar YTD high | S1 | 0.7000 | * | congestion | |
| R3 | 0.7155 | * | February 2023 (y) high | S2 | 0.6960 | * | 1 Apr (w) high | |
| R2 | 0.7100 | congestion | S3 | 0.6900 | * | break level | ||
| R1 | 0.7050 | * | congestion | S4 | 0.6833 | ** | 30 Mar (m) low |
Asterisk denotes strength of level
14:40 BST – Anticipated gains have extended to congestion resistance at 0.7050, where unwinding overbought intraday studies are prompting consolidation. Daily readings have turned higher, highlighting room for continuation towards further congestion around 007100. But negative weekly charts should limit any immediate break above here in consolidation beneath critical resistance within the 0.7155 – 0.7187 range. Meanwhile, support is raised to congestion around 0.7000 and extends to the 0.6960 weekly high of 1 April. This range should underpin any immediate setbacks.
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