Anticipated losses have met buying interest just above congestion support at 1.3350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3350 | * | congestion | |
| R3 | 1.3550/58 | * | congestion; 15 Jul (w) high | S2 | 1.3300 | ** | congestion | |
| R2 | 1.3500 | * | congestion | S3 | 1.3250 | intraday break level | ||
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 BST – Anticipated losses have met buying interest just above congestion support at 1.3350, with prices currently balanced in consolidation around 1.3385. Daily stochastics continue to fall and the daily Tension Indicator is turning down, suggesting room for still further losses in the coming sessions. A break below 1.3350 will open up congestion support at 1.3300, where rising weekly charts should prompt fresh consolidation. Meanwhile, resistance is lowered to congestion around 1.3400. A close above here would help to stabilise sentiment and prompt consolidation beneath congestion around 1.3500.
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