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Published: 2025-08-28T07:56:19.000Z

Chart EUR/GBP Update: Further consolidation - background studies under pressure

byMike Macdonald

Senior Technical Strategist
2

Little change, as prices extend consolidation above support at 0.8620, (GBP/EUR 1.1600)

 Level  Comment   Level  Comment 
R4 0.8737**11 Apr (m) high S1 0.8620*GBP/EUR 1.1600
R3 0.8695**GBP/EUR 1.1500 S2 0.8600**cong, 38.2% ret
R2 0.8672*22 Aug (w) high S3 0.8555**50% ret of May-Jul rally
R1 0.8650**congestion S4 0.8547/50**GBP/EUR 1.1700; cong

Asterisk denotes strength of level

08:45 BST - Little change, as prices extend consolidation above support at 0.8620, (GBP/EUR 1.1600). Intraday studies are rising and negative daily stochastics are flattening, suggesting room for a move towards congestion resistance at 0.8650. But the bearish daily Tension Indicator and negative weekly charts are expected to limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. However, a close below strong support at 0.8600 is needed to confirm a near-term top in place at the 0.8752 current year high of 28 July. Late-July losses will then target the 0.8555 Fibonacci retracement.

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Topics
EUR/GBP-TA
DM-Technical
Technical Analysis

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