Published: 2025-07-03T08:12:53.000Z
Chart EUR/GBP Update: Sharp gains giving way to consolidation
Senior Technical Strategist
1
Anticipated gains have broken above the 0.8645 Fibonacci retracement to reach 0.8670
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8766 | ** | Nov 2023 (m) high | S1 | 0.8620 | * | GBP/EUR 1.1600 | |
| R3 | 0.8737 | ** | 11 Apr YTD high | S2 | 0.8600 | ** | congestion | |
| R2 | 0.8695 | ** | GBP/EUR 1.1500 | S3 | 0.8547/50 | * | GBP/EUR 1.1700; cong | |
| R1 | 0.8670 | 2 Jul high | S4 | 0.8520 | congestion |
Asterisk denotes strength of level
08:55 BST - Anticipated gains have broken above the 0.8645 Fibonacci retracement to reach 0.8670, where unwinding overbought intraday studies are prompting short-term reactions. A pullback to support at 0.8620, (GBP/EUR 1.1600), and congestion around 0.8600 is highlighted. But mixed/positive daily readings and rising weekly charts are expected to limit any initial tests in fresh consolidation. Following cautious trade, higher levels are looked for. But a close above 0.8670 is needed to turn sentiment positive and extend May gains towards 0.8695, (GBP/EUR 1.1500).