Little change, as prices extend cautious trade above 0.8695/00
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8790 | ** | 27 Feb YTD high | S1 | 0.8695/00 | * | GBP/EUR 1.1500; cong | |
| R3 | 0.8772 | * | GBP/EUR 1.1400 | S2 | 0.8670 | * | congestion | |
| R2 | 0.8750 | ** | congestion | S3 | 0.8650 | * | congestion | |
| R1 | 0.8735 | * | congestion highs | S4 | 0.8613/20 | ** | 4 Feb (m) low; GBP/EUR 1.1600 |
Asterisk denotes strength of level
09:05 BST – Little change, as prices extend cautious trade above 0.8695/00. Daily readings continue to point lower, highlighting room for a break beneath here towards congestion around 0.8670. But rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above 0.8650. Meanwhile, resistance remains at the 0.8735 congestion highs and should continue to cap any immediate tests higher.
Leave a comment