Published: 2026-08-27T08:02:27.000Z
Chart EUR/GBP Update: Approaching strong resistance
1
Cautious trade has given way to steady gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8620 | * | GBP/EUR 1.1600 | S1 | 0.8560 | congestion base | ||
| R3 | 0.8610 | * | 38.2% ret of Nov-Jul fall | S2 | 0.8547 | ** | GBP/EUR 1.1700 | |
| R2 | 0.8600 | ** | congestion | S3 | 0.8532 | * | 12 Aug (w) low | |
| R1 | 0.8585 | * | recent range highs | S4 | 0.8520 | congestion |
Asterisk denotes strength of level
08:50 BST - Cautious trade has given way to steady gains, with the break above 0.8560 putting focus on resistance at the 0.8585 recent range highs. Daily stochastics have turned higher and the flat daily Tension is also improving, suggesting room for a break above here and continuation of July gains towards congestion around 0.8600. Still higher is the 0.8610 Fibonacci retracement, where short-term profit-taking could appear.
Meanwhile, a close back below 0.8560, if seen, should be limited in fresh consolidation above 0.8547, (GBP/EUR 1.1700).