Cautious trade is giving way to a push higher
 Level Comment  Level CommentR4 16.6000 break level S1 16.0000**congestionR3 16.5000 break level S2 15.8035*12 Feb (w) lowR2 16.4275 6 Feb (w) high S3 15.6370**29 Jan YTD lowR1 16.2000 minor congestion S4 15.1665*June 2022 low
Asterisk denotes strength of level
14:30 GMT – Cautious trade is giving way to a push higher, as intraday studies improve, with the break above 16.0000 putting focus on congestion around 16.2000. Daily readings have ticked higher, suggesting room for a test above here. But mixed weekly charts are expected to limit initial scope in fresh consolidation beneath 16.5000. Meanwhile, support is raised to congestion around 16.0000. However, any initial tests beneath here should give way to consolidation above the 15.0835 weekly low of 12 February.