Published: 2025-05-21T06:29:26.000Z
Chart EUR/GBP Update: Extending bounce from .8400/.8385 support
Technical Analyst
4
Higher in consolidation following test of strong support at the .8400/.8385, June/July lows
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8520 | ** | 16 Apr low | S1 | 0.8400 | * | Jun low | |
| R3 | 0.8500 | * | congestion | S2 | 0.8385 | * | Jul low | |
| R2 | 0.8475 | ** | congestion, Jan high | S3 | 0.8350 | * | congestion | |
| R1 | 0.8450 | * | congestion, Mar high | S4 | 0.8315 | ** | 28 Mar low |
Asterisk denotes strength of level
06:30 GMT - Higher in consolidation following test of strong support at the .8400/.8385, June/July lows. Bounce here see prices unwinding oversold daily studies and see room to strong resistance at .8450/.8475, congestion and January high, which is expected to cap. Would take break here to ease the downside pressure and open up room for stronger bounce to retrace losses from the .8737, 11 April current year high. Higher will see room to the .8500/20 congestion area. Meanwhile, support at the .8400/.8385 lows should underpin and keep losses in check.