Follow-through above the 7.2470 resistance extend gains from the 7.1650 May low to reach congestion at the 7.2600 level
Level | Imp | Comment | Level | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 7.3000 | * | congestion | S1 | 7.2470 | 14 May high | ||
R3 | 7.2830 | ** | 16 Apr YTD high | S2 | 7.2340 | * | Feb high | |
R2 | 7.2740 | * | 25 Apr high | S3 | 7.2200 | congestion | ||
R1 | 7.2600 | congestion | S4 | 7.2000 | * | Dec high, congestion |
03:20 GMT - Follow-through above the 7.2470 resistance extend gains from the 7.1650 May low to reach congestion at the 7.2600 level. Clearance here will see scope to the 7.2700/40 resistance though divergence on intraday studies and the stretched daily chart caution corrective pullback. Meanwhile, support is at 7.2470 and extend to the 7.2340 high of February. This area now underpin and see break needed to open up deeper pullback to the 7.2200/7.2000 area. Below these will return focus to the downside to the 7.1800 congestion then the 7.1650, 3rd May low.