Published: 2025-03-26T08:57:00.000Z
Chart EUR/GBP Update: Sharp bounce from 0.8333
Senior Technical Strategist
1
The anticipated test of support at 0.8333, (GBP/EUR 1.200), has given way to the expected bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8473/75 | ** | 20 Jan YTD high; GBP/EUR 1.1800 | S1 | 0.8350 | ** | congestion | |
| R3 | 0.8450 | * | congestion | S2 | 0.8333 | * | GBP/EUR 1.2000 | |
| R2 | 0.8430 | * | range lows | S3 | 0.8300 | * | congestion | |
| R1 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | S4 | 0.8265 | * | GBP/EUR 1.2100 |
Asterisk denotes strength of level
08:45 GMT - The anticipated test of support at 0.8333, (GBP/EUR 1.200), has given way to the expected bounce, with prices currently trading around 0.8370. Unwinding oversold intraday studies and flattening oversold daily stochastics highlight room for continuation towards resistance at 0.8400/03. But the bearish daily Tension Indicator and mixed weekly charts should limit any initial tests in renewed consolidation. Meanwhile, support remains at congestion around 0.8350 and extends to 0.8333. This range should underpin any immediate retests.