Chart EUR/GBP Update: Leaning lower
Anticipated tests higher have not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8532 | ** | 12 Aug (m) low | S1 | 0.8425~ | ** | 14 Oct YTD low | |
| R3 | 0.8500 | ** | congestion | S2 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | |
| R2 | 0.8475 | * | GBP/EUR 1.1800 | S3 | 0.8375 | ** | 76.4% ret of 2024-2025 fall | |
| R1 | 0.8450 | ** | congestion | S4 | 0.8355 | ** | 29 May 2025 (m) low |
Asterisk denotes strength of level
09:20 BST - Anticipated tests higher have not been seen, as overbought intraday studies unwind, with prices falling steadily to currently trade around 0.8440. Immediate focus is back on the 0.8425~ current year low of 14 October. But mixed daily readings could limit any initial tests in fresh consolidation, before bearish weekly charts prompt further losses. A later close beneath here will turn sentiment negative and extend broad November 2025 losses initially towards 0.8400/03.
Meanwhile, resistance is lowered to congestion around 0.8450. A close back above here, if seen, will help to stabilise price action and prompt fresh consolidation beneath 0.8475, (GBP/EUR 1.1800).