Published: 2025-06-03T08:07:45.000Z
Chart EUR/GBP Update: Further gains to remain limited
Senior Technical Strategist
1
Anticipated gains have reached resistance at 0.8450
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | GBP/EUR 1.1700 | S1 | 0.8400/03 | * | congestion; GBP/EUR 1.1900 | ||
| R3 | 0.8500 | ** | congestion | S2 | 0.8350 | * | congestion | |
| R2 | 0.8475 | ** | GBP/EUR 1.1800 | S3 | 0.8333 | * | GBP/EUR 1.2000 | |
| R1 | 0.8450 | * | break level | S4 | 0.8315 | ** | 28 Mar (w) low |
Asterisk denotes strength of level
08:55 BST - Anticipated gains have reached resistance at 0.8450, where unwinding overbought intraday studies are prompting short-term reactions. The daily Tension Indicator continues to rise, suggesting room for a test above here. But flattening overbought daily stochastics and bearish weekly charts are expected to limit any break in renewed selling interest beneath 0.8475, (GBP/EUR 1.1800). In the coming sessions, cautious trade is looked for, with support down to congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900). A later break beneath here will add weight to sentiment and open up congestion around 0.8350.