|R3||1.0650||*||congestion||S2||1.0443||*||7 Dec (w) low|
|R2||1.0610||**||38.2% ret of|
|R1||1.0595/00||**||5 Dec high; cong||S4||1.0300||*||congestion|
Asterisk denotes strength of level
08:25 GMT - Still little change, as mixed/negative intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 1.0500. Daily readings are leaning lower, however, highlighting potential for a later break beneath towards strong support at the 1.0443 weekly low of 7 December, where rising weekly charts are expected to prompt fresh buying interest. A further close beneath here will turn sentiment negative and signal a near-term top in place just beneath 1.0600/10. Meanwhile, a close above the 1.0610 Fibonacci retracement will turn price action positive and confirm continuation of September gains.