Chart EUR/GBP Update: Balanced beneath fresh 2025 year high - studies rising
The anticipated break above strong resistance at the 0.8685 Fibonacci retracement and 0.8695, (GBP/EUR 1.1700), has posted a fresh 2025 year high at 0.8737
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8750/65 | ** | congestion; Nov 2023 (m) high | S1 | 0.8620 | * | GBP/EUR 1.1600 | |
| R3 | 0.8737 | 11 Apr YTD high | S2 | 0.8600 | * | congestion | ||
| R2 | 0.8695 | * | GBP/EUR 1.1700 | S3 | 0.8547 | ** | GBP/EUR 1.1700 | |
| R1 | 0.8685 | ** | 61.8% ret of 2023-2024 fall | S4 | 0.8500 | ** | congestion |
Asterisk denotes strength of level
08:45 BST - The anticipated break above strong resistance at the 0.8685 Fibonacci retracement and 0.8695, (GBP/EUR 1.1700), has posted a fresh 2025 year high at 0.8737, where deteriorating intraday studies are prompting a pullback. Focus is turning to support at 0.8620, (GBP/EUR 1.1600), and congestion around 0.8600. However, rising daily readings and positive weekly charts are expected to limit any break in renewed buying interest above 0.8547, (GBP/EUR 1.1700). Following cautious trade, fresh gains are looked for. A break back above 0.8685/95 will improve sentiment and put focus back on 0.8737. Continuation beyond here will open up historic congestion around 0.8750 and the 0.8765 monthly high of November 2023.