Published: 2025-03-05T09:04:12.000Z
Chart EUR/GBP Update: Approaching strong resistance at 0.8333/50
Senior Technical Strategist
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Anticipated gains are extending
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | S1 | 0.8300 | ** | congestion | |
| R3 | 0.8378 | * | 6 Feb (m) high | S2 | 0.8265 | * | GBP/EUR 1.2100 | |
| R2 | 0.8350 | ** | congestion | S3 | 0.8240 | ** | 28 Feb YTD low | |
| R1 | 0.8333 | * | GBP/EUR 1.2000 | S4 | 0.8222 | ** | 19 Dec 2024 (y) low |
Asterisk denotes strength of level
08:55 GMT - Anticipated gains are extending, as intraday studies continue to rise, with focus turning to 0.8333, (GBP/EUR 1.2000). Rising daily readings highlight potential for continuation towards congestion around 0.8350. But mixed/negative weekly charts are expected to limit any initial tests of this range in consolidation. A close above here, however, will further improve sentiment and open up strong resistance at 0.8400/03. Meanwhile, support is raised to congestion around 0.8300. An unexpected close beneath here will turn sentiment neutral and promote consolidation above 0.8265, (GBP/EUR 1.2100).