Published: 2025-05-06T07:59:45.000Z
Chart EUR/GBP Update: Consolidating - background studies under pressure
Senior Technical Strategist
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Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8620 | * | GBP/EUR 1.1600 | S1 | 0.8500 | ** | congestion | |
| R3 | 0.8600 | * | congestion | S2 | 0.8473/75 | ** | 20 Jan (m) high; GBP/EUR 1.1800 | |
| R2 | 0.8575 | * | congestion | S3 | 0.8450 | * | break level | |
| R1 | 0.8547 | ** | GBP/EUR 1.1700 | S4 | 0.8425 | congestion |
Asterisk denotes strength of level
08:50 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 0.8500. Oversold daily stochastics are rising, suggesting room for a test higher. But the negative daily Tension Indicator and deteriorating weekly charts are expected to limit scope in renewed selling interest towards resistance at 0.8547, (GBP/EUR 1.1700). Following cautious trade, fresh losses are looked for. But a close below 0.8473/75 is needed to turn sentiment negative and extend April losses initially towards 0.8450.