Published: 2025-04-03T10:53:32.000Z
Chart EUR/GBP Update: Heightened volatility - studies improving
Senior Technical Strategist
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Cautious trade has given way to a sharp EUR-driven spike higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8475 | ** | GBP/EUR 1.1800 | S1 | 0.8375 | * | break level | |
| R3 | 0.8450 | * | congestion | S2 | 0.8350 | ** | congestion | |
| R2 | 0.8430 | * | range lows | S3 | 0.8333 | * | GBP/EUR 1.2000 | |
| R1 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | S4 | 0.8315 | * | 28 Mar (w) low |
Asterisk denotes strength of level
11:40 BST - Cautious trade has given way to a sharp EUR-driven spike higher, with prices reaching 0.8440 before settling lower to 0.8400/03. Intraday studies have ticked higher and daily readings are also improving, highlighting room for fresh gains in the coming sessions. A break back above 0.8400/03 will put focus back on resistance within 0.8430/50. However, a close above 0.8475, (GBP/EUR 1.1800), is needed to confirm a more significant rally and continuation of December gains. Meanwhile, support is raised to 0.8375 and extends to 0.8350. This range should underpin any immediate setbacks.