Anticipated losses have tested below 0.7065 to reach 0.7045~
 LevelsImpComment  LevelsImpCommentR40.7280~**June 2022 high S10.7065*10-11 Feb lowsR30.7200**61.8% ret of 2021-2025 fall S20.7000*congestionR20.7147/55~**12 Feb YTD high; Feb 2023 (y) high S30.6900**break levelR10.7100 break level S40.6800 break level
Asterisk denotes strength of level
09:20 GMT – Anticipated losses have tested below 0.7065 to reach 0.7045~, before bouncing back into consolidation around 0.7075. Daily stochastics have turned down and the flat daily Tension Indicator is also coming under pressure, highlighting a deterioration in sentiment and room for deeper losses in the coming sessions. A close below the 0.7065 lows from 10-11 February will add weight to sentiment and open up congestion around 0.7000. Meanwhile, a close back above 0.7100 would help to stabilise price action. But a further close above the 0.7147 current year high of 12 February and the 0.7155~ year high of February 2023 is needed to turn sentiment positive and open up strong resistance at the 0.7200 Fibonacci retracement.