Chart EUR/GBP Update: Choppy trade around 0.8547/50
Little change, as prices extend choppy trade around resistance at 0.8547, (GBP/EUR 1.1700), and congestion around 0.8550
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8640 | * | congestion | S1 | 0.8520 | congestion | ||
| R3 | 0.8620 | * | GBP/EUR 1.1600 | S2 | 0.8500 | ** | congestion | |
| R2 | 0.8600 | ** | congestion | S3 | 0.8475 | ** | GBP/EUR 1.1800 | |
| R1 | 0.8547/50 | * | GBP/EUR 1.1700; cong | S4 | 0.8450 | * | break level |
Asterisk denotes strength of level
08:50 BST - Little change, as prices extend choppy trade around resistance at 0.8547, (GBP/EUR 1.1700), and congestion around 0.8550. Overbought daily stochastics are turning down and the rising daily Tension Indicator is showing early signs of flattening, highlighting potential for a fresh test beneath here. Focus will then turn to congestion within the 0.8500/20 range. But rising weekly charts should limit any tests in fresh consolidation/buying interest. Following cautious trade, fresh gains are looked for, with later focus to turn to congestion around 0.8600 and 0.8620, (GBP/EUR 1.1600).