Chart EUR/GBP Update: Focus back on critical supports
The test of resistance at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900), has not been sustained
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8475 | * | GBP/EUR 1.1800 | S1 | 0.8375 | ** | 76.4% ret of 2024-2025 fall | |
| R3 | 0.8450 | ** | congestion | S2 | 0.8362~ | 23 Oct YTD low | ||
| R2 | 0.8425 | break level | S3 | 0.8355 | ** | 29 May 2025 (m) low | ||
| R1 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
09:10 GMT - The test of resistance at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900), has not been sustained, as unwinding overbought intraday studies prompt renewed selling interest and a pullback to the 0.8375 Fibonacci retracement. Immediate focus is on critical support at the 0.8355 monthly low of 29 May 2025 and the 0.8362 current year low of 23 October. However, mixed/positive daily readings should limit any immediate tests in fresh consolidation, before mixed/negative weekly and longer-term charts prompt a break. A later close beneath here will add weight to sentiment and confirm continuation of November 2025 losses.
Meanwhile, an unexpected close above 0.8400/03 will help to stabilise price action and prompt consolidation beneath 0.8425.