Published: 2025-03-06T09:05:08.000Z
Chart EUR/GBP Update: Focus on 0.8400/03
Senior Technical Strategist
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Anticipated gains have reached 0.8380
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8473/75 | ** | 20 Jan YTD high; GBP/EUR 1.1800 | S1 | 0.8350 | ** | congestion | |
| R3 | 0.8450 | * | congestion | S2 | 0.8333 | * | GBP/EUR 1.2000 | |
| R2 | 0.8430 | *- | range lows | S3 | 0.8300 | ** | congestion | |
| R1 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | S4 | 0.8265 | * | GBP/EUR 1.2100 |
Asterisk denotes strength of level
08:55 GMT - Anticipated gains have reached 0.8380, where a tick lower in overbought intraday studies is prompting short-term reactions. Daily readings continue to rise, highlighting potential for continuation towards congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900). But mixed weekly charts are expected to limit any initial tests in consolidation. A close above here would improve sentiment once again and open up the 0.8430/50 range. Meanwhile, support is raised to congestion around 0.8350 and extends to 0.8333, (GBP/EUR 1.2000). A close beneath here would turn sentiment neutral and prompt consolidation above 0.8300.