|R4||1.2000||*||break level||S1||1.1800/07||*||break level;|
2 Jul (w) low
|R3||1.1970/75||*||23-25 Jun highs||S2||1.1750||intraday congestion|
|R2||1.1950||intraday cong||S3||1.1737||*||5 Apr (w) low|
|R1||1.1900||*||break level||S4||1.1700/04||**||38.2% ret; March low|
Asterisk denotes strength of level
08:20 BST - Consolidation around congestion support at 1.1800 has given way to a steady bounce to 1.1875, where overbought intraday studies are prompting fresh consolidation. Rising daily stochastics are showing signs of positive divergence, and the flat daily Tension Indicator is flattening, pointing to a minor improvement in sentiment and scope for further gains in the coming sessions towards 1.1900. However, mixed weekly charts are expected to limit any immediate break. Meanwhile, support at 1.1800/07 should continue to underpin any immediate setbacks.