Little change, as prices extend cautious trade within the 1.4000 – 1.4050 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4200 | ** | congestion | S1 | 1.4000 | ** | break level | |
| R3 | 1.4150 | * | congestion base | S2 | 1.3980 | ** | 38.2% ret of May-Jun rally | |
| R2 | 1.4100 | * | congestion | S3 | 1.3930 | intraday lows | ||
| R1 | 1.4050 | break level | S4 | 1.3900 | ** | congestion, 50% ret |
Asterisk denotes strength of level
16:45 BST – Little change, as prices extend cautious trade within the 1.4000 – 1.4050 range. Rising intraday studies and a tick higher in oversold daily stochastics highlight potential for a test above here. But a tick lower in the daily Tension Indicator and deteriorating weekly charts should limit scope in renewed selling interest beneath congestion around 1.4100. Following cautious/corrective trade, fresh losses are looked for. A later break below 1.4000 will open up the 1.3980 Fibonacci retracement, with a further close beneath here adding weight to sentiment and extending late-June losses towards 1.3900.
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