The SCR has recently fluctuated between £1.04 and £1.24, with the current price hovering around £1.08. This 20% price range suggests moderate volatility, and the current midpoint position indicates a delicate balance between buying and selling pressures.
Retreating 13% from its recent peak may signal correction or profit-taking, while the 4% rebound from the recent trough reveals some buying interest and potential support. The dynamics between these key levels will shape the SCR's future trajectory.
The support level of £1.04 and resistance level of £1.24 are critical thresholds to watch. A breakout above £1.24 could propel the SCR upward, targeting £1.40-£1.50, while a breakdown below £1.04 may precipitate a decline to £0.90-£0.95.
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