|R4||1.1872||*||21 Sep high||S1||1.1700||*||congestion|
|R2||1.1800||congestion||S3||1.1612||**||25 Sep (m) low|
|R1||1.1770||*||1 Oct high||S4||1.1590||**||50% ret of Jun-Sep rally|
Asterisk denotes strength of level
08:20 BST - No significant change, whilst mixed intraday studies keep near-term sentiment cautious and prices balanced in consolidation above 1.1700. Daily momentum readings and the Tension Indicator are positive, highlighting scope for a run higher, but a close above the 1.1770 high of 1 October is needed to turn price action cautiously Positive and extend late September gains. Expectations, however, are for negative weekly charts to limit gains, and keep prices under broad pressure. A later close below 1.1700 will turn sentiment cautiously Negative and put focus on critical support at the 1.1612 monthly low of 25 September and 1.1590 Fibonacci retracement.