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- RES 4: 1.2038 2.0% 10-dma envelope
- RES 3: 1.2000 Psychological round number
- RES 2: 1.1978 1.236 proj of May 7 - Jun 10 rally from Jun 19 low
- RES 1: 1.1916 High Aug 6
- PRICE: 1.1794 @ 05:18 BST Aug 10
- SUP 1: 1.1696 Low Aug 3
- SUP 2: 1.1674/1639 20-day EMA / Low Jul 27
- SUP 3: 1.1581 Low Jul 24
- SUP 4: 1.1541 Low Jul 23
The pair traded softer into the Friday close, inching further from the 1.1916 high. The weak Friday close makes a period of consolidation more likely, with bulls needing to secure a close above 1.19 to reignite the uptrend. Momentum indicators have been flashing overbought consistently across the week, and a longer pause may relieve some of this pressure. The technical outlook deteriorates below 1.1696. Any persistent move higher will focus on the psychological 1.2000 handle.