Published: 2026-04-24T08:08:47.000Z
Chart EUR/GBP Update: Smart bounce giving way to consolidation
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The anticipated break below 0.8670 has met short-covering above congestion support at 0.8650
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8735 | * | congestion highs | S1 | 0.8670 | * | congestion | |
| R3 | 0.8720 | * | break level | S2 | 0.8650 | * | congestion | |
| R2 | 0.8695/00 | * | GBP/EUR 1.1500; cong | S3 | 0.8613/20 | ** | 4 Feb (m) low; GBP/EUR 1.1600 | |
| R1 | 0.8685 | * | 14 Apr (w) low | S4 | 0.8600 | * | break level |
Asterisk denotes strength of level
08:55 BST - The anticipated break below 0.8670 has met short-covering above congestion support at 0.8650, with rising intraday studies and flattening oversold daily stochastics prompting a bounce back above 0.8670. The daily Tension Indicator continues to track lower and broader weekly charts are mixed/negative, suggesting any further gains should find difficulty sustaining tests above resistance at the 0.8685 weekly low of 14 April. In the coming sessions, consolidation is looked for. However, a close below congestion support at 0.8670 will add weight to sentiment and put focus back on 0.8650.