Published: 2025-08-15T07:57:48.000Z
Chart EUR/GBP Update: Limited scope above 0.8620
Senior Technical Strategist
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The anticipated break below strong support at 0.8600 has not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8737 | ** | 11 Apr (m) high | S1 | 0.8600 | ** | cong, 38.2% ret | |
| R3 | 0.8695 | ** | GBP/EUR 1.1500 | S2 | 0.8555 | ** | 50% ret of May-Jul rally | |
| R2 | 0.8650 | ** | congestion | S3 | 0.8547/50 | ** | GBP/EUR 1.1700; cong | |
| R1 | 0.8620 | * | GBP/EUR 1.1600 | S4 | 0.8505/08 | ** | 61.8% ret; 27 Jun (w) low |
Asterisk denotes strength of level
08:50 BST - The anticipated break below strong support at 0.8600 has not been seen, as unwinding oversold intraday studies prompt a minor bounce back to resistance at 0.8620, (GBP/EUR 1.1600). Oversold daily stochastics are unwinding, suggesting potential for a test above here. But the negative daily Tension Indicator and bearish weekly charts are expected to limit scope in renewed selling interest towards congestion resistance at 0.8650. Following cautious/corrective trade, fresh losses are looked for. A later close below 0.8600 will add weight to sentiment and extend late-July losses towards the 0.8547/50 - 0.8555 range.