Chart EUR/GBP Update: Consolidating - studies under pressure
Little change, as prices extend consolidation within strong support at the 0.8360 current year low of 27 October and the 0.8375 Fibonacci retracement
| 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 | 0.8360~ | 27 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
09:00 GMT - Little change, as prices extend consolidation within strong support at the 0.8360 current year low of 27 October and the 0.8375 Fibonacci retracement. Oversold daily stochastics are unwinding and the bearish daily Tension Indicator is turning higher, suggesting room for a bounce in the coming sessions. However, bearish weekly and longer-term charts should limit scope in renewed selling interest/consolidation beneath resistance at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900).
Following cautious/corrective trade, fresh losses are looked for. A later break below 0.8360 will open up the 0.8355 monthly low of 29 May 2025. Continuation beneath here will add weight to sentiment and confirm continuation of November 2025 losses.