Published: 2025-08-01T08:06:19.000Z
Chart EUR/GBP Update: Gains to remain limited
Senior Technical Strategist
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Little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8750~ | ** | 28 Jul YTD high | S1 | 0.8620 | * | GBP/EUR 1.1600 | |
| R3 | 0.8737 | ** | 11 Apr (m) high | S2 | 0.8600 | ** | cong, 38.2% ret | |
| R2 | 0.8695 | ** | GBP/EUR 1.1500 | S3 | 0.8555 | ** | 50% ret of May-Jul rally | |
| R1 | 0.8650 | ** | congestion | S4 | 0.8547/50 | ** | GBP/EUR 1.1700; cong |
Asterisk denotes strength of level
08:45 BST - Little change, as the bounce from strong support within the 0.8600-0.8620 range extends cautious trade around congestion resistance at 0.8650. Intraday studies are rising and oversold daily stochastics are edging up, suggesting room for a break above here. However, the bearish daily Tension Indicator a tick lower in overbought weekly stochastics should limit scope in renewed selling interest beneath 0.8695, (GBP/EUR 1.1500). Following corrective trade, fresh losses are looked for. A later close below 0.8600 will add weight to sentiment and extend July losses towards the 0.8555 Fibonacci retracement and 0.8547/50.