Chart EUR/GBP Update: Fresh year low - studies under pressure
The break below support at the 0.8375 multi-month Fibonacci retracement has posted a fresh year low around 0.8360
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8475 | * | GBP/EUR 1.1800 | S1 | 0.8375 | ** | 76.4% ret of 2024-2025 fall | |
| R3 | 0.8450 | ** | congestion | S2 | 0.8360~ | 27 Oct YTD low | ||
| R2 | 0.8425 | break level | S3 | 0.8355 | ** | 29 May 2025 (m) low | ||
| R1 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
08:55 GMT - The break below support at the 0.8375 multi-month Fibonacci retracement has posted a fresh year low around 0.8360, where unwinding oversold intraday studies are prompting consolidation. Oversold daily stochastics are also unwinding, suggesting potential for a minor bounce. But the flat/negative daily Tension Indicator and bearish weekly charts should limit scope in renewed selling interest beneath resistance at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900).
Following cautious/corrective trade, fresh losses are looked for. A later break below 0.8360 will open up the 0.8355 monthly low of 29 May 2025. Continuation beneath here will add weight to sentiment and confirm continuation of November 2025 losses.