Published: 2025-03-17T08:57:12.000Z
Chart EUR/GBP Update: Choppy in range
Senior Technical Strategist
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The anticipated break above 0.8400/03 has been pushed back from resistance at 0.8430
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | |
| R3 | 0.8473/75 | ** | 20 Jan YTD high; GBP/EUR 1.1800 | S2 | 0.8370 | 14 Mar (w) low | ||
| R2 | 0.8450 | * | congestion | S3 | 0.8350 | ** | congestion | |
| R1 | 0.8430 | *- | range lows | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
08:45 GMT - The anticipated break above 0.8400/03 has been pushed back from resistance at 0.8430, as intraday studies turn mixed, with prices currently consolidation above 0.8400/03. Daily studies are mixed/negative, suggesting potential for a test beneath here. But rising weekly charts and improving longer-term readings are expected to limit any break in renewed buying interest above congestion around 0.8350. Meanwhile, resistance remains at 0.8430 and extends to congestion around 0.8450. This range is expected to cap any immediate tests higher, before a later break opens up critical resistance at 0.8473/75