Still stretching and break above the1.3700 level further extend sharp gains from the 1.3420 September low
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 1.3947 | ** | 5 Aug YTD high | S1 | 1.3700 | * | congestion | |
R3 | 1.3900 | ** | Nov 2023 year high | S2 | 1.3650 | ** | Sep high | |
R2 | 1.3845 | * | Apr high | S3 | 1.3600 | * | congestion | |
R1 | 1.3800 | * | congestion | S4 | 1.3550/40 | * | congestion, 1 Oct high |
Asterisk denotes strength of level
06:40 GMT - Still stretching and break above the 1.3700 level further extend sharp gains from the 1.3420 September low. Break above the 1.3750 congestion see room to the strong resistance at the 1.3800 level. Beyond this will see scope to 1.3845 high of April. However, deep overbought daily studies caution corrective pullback with support raised to the 1.3700 congestion then the 1.3650, September high. The latter now protecting the downside and break here will fade the upside pressure and see room for pullback to the strong support at the 1.3600 congestion.