Published: 2026-01-08T09:06:00.000Z
Chart EUR/GBP Update: Corrective bounce
2
Cautious trade has given way to steady gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8772 | * | GBP/EUR 1.1400 | S1 | 0.8670 | ** | October range lows | |
| R3 | 0.8750 | * | congestion | S2 | 0.8645 | * | 6 Jan YTD low | |
| R2 | 0.8720 | * | congestion | S3 | 0.8620 | * | GBP/EUR 1.1600 | |
| R1 | 0.8695/00 | * | GBP/EUR 1.1500; cong | S4 | 0.8610 | ** | 50% ret of May-Nov rally |
Asterisk denotes strength of level
08:45 GMT - Cautious trade has given way to steady gains, with the break above 0.8670 improving price action. Immediate focus is on resistance at 0.8695, (GBP/EUR 1.1500), and congestion around 0.8700. But already overbought intraday studies are expected to limit any immediate tests in consolidation, before rising daily readings prompt a break and open up congestion around 0.8720. Meanwhile, support remains down to the 0.8645 low of 6 January. A close beneath here, not yet seen, will turn sentiment negative and extend November losses towards strong support within 0.8600/20.