Still little change, as prices extend cautious trade beneath the current year high around the 0.7280~ high of June 2022
LevelsImpComment LevelsImpCommentR40.7515**76.4% ret of 2021-2025 fall S10.7200**break level, 61.8% retR30.7500**historic congestion S20.7100 congestionR20.7400**historic congestion S30.7050*congestionR10.7280~**June 2022 high S40.7000*congestion
Asterisk denotes strength of level
13:45 BST – Still little change, as prices extend cautious trade beneath the current year high around the 0.7280~ high of June 2022. The daily Tension Indicator is flat, suggesting room for further consolidation. But rising daily stochastics and positive weekly charts point to room for later further gains. A close above 0.7280 will help to improve price action and extend April 2025 gains towards historic congestion around 0.7400. Meanwhile, support is at 0.7200. A close beneath here will add weight to sentiment and prompt a pullback towards congestion support at 0.7100.