Published: 2024-11-11T08:01:17.000Z
Chart EUR/GBP Update: Extending fresh year low
Technical Analyst
1
Pressure remains on the downside and break of the .8287 low see room to extend losses from the September 2022 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8400 | * | congestion | S1 | 0.8287 | ** | 8 Nov YTD low | |
| R3 | 0.8383 | * | Jul low | S2 | 0.8250 | * | Apr 2022 low | |
| R2 | 0.8375 | congestion | S3 | 0.8215 | ** | 50% 2015/2020 rally | ||
| R1 | 0.8350 | * | congestion | S4 | 0.8202/00 | ** | Mar 2022 year low, congestion |
Asterisk denotes strength of level
07:50 GMT - Pressure remains on the downside and break of the .8287 low see room to extend losses from the September 2022 high. Lower will see scope to target the .8250, low of April 2022 low. However, oversold daily studies caution corrective bounce though gains likely to remain limited with resistance at the .8350 congestion expected to cap and sustain losses from the .8447, October corrective high. Below the .8250 support will see room for further losses to the .8215 Fibonacci retracement then the .8203/00, 2022 year low.