Chart EUR/GBP Update: Fresh 2026 year lows in GBP-driven trade
Cautious trade has given way to renewed selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8620 | ** | GBP/EUR 1.1600 | S1 | 0.8500/08 | ** | cong; 27 Jun 2025 (w) low | |
| R3 | 0.8600 | ** | congestion | S2 | 0.8493 | mid-June 2025 (w) low | ||
| R2 | 0.8575 | 2 Jul high | S3 | 0.8475 | GBP/EUR 1.1800 | |||
| R1 | 0.8547 | ** | GBP/EUR 1.1700 | S4 | 0.8470 | ** | 61.8% ret of 2024-2025 rally |
Asterisk denotes strength of level
08:45 BST - Cautious trade has given way to renewed selling interest, with November losses posting a fresh 2026 year low around 0.8520~ in GBP-driven trade. Intraday studies are under pressure and daily readings are also bearish, highlighting room for continuation towards strong support within congestion around 0.8500 and the 0.8508 weekly low of 27 June 2025. However, flat oversold daily stochastics could limit any initial tests in consolidation, before falling weekly charts prompt a break and open up the 0.8470 Fibonacci retracement and 0.8475, (GBP/EUR 1.1800). Meanwihle, resistance is lowered to 0.8547, (GBP/EUR 1.1700). A close above here, if seen, would help to stabilise price action and prompt consolidation beneath the 0.8575 high of 2 July.