Chart EUR/GBP Update: Fresh year high not sustained
The anticipated break above the 0.8737 monthly high of 11 April has posted a fresh 2025 year high around 0.8750
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8772 | GBP/EUR 1.1400 | S1 | 0.8695 | ** | GBP/EUR 1.1500 | ||
| R3 | 0.8766 | ** | November 2023 (m) high | S2 | 0.8650 | ** | congestion | |
| R2 | 0.8750~ | fresh 2025 (y) high | S3 | 0.8620 | * | GBP/EUR 1.1600 | ||
| R1 | 0.8737 | ** | 11 Apr (m) high | S4 | 0.8600 | ** | congestion |
Asterisk denotes strength of level
08:45 BST - The anticipated break above the 0.8737 monthly high of 11 April has posted a fresh 2025 year high around 0.8750, before falling sharply towards support at 0.8695, (GBP/EUR 1.1500). Negative intraday studies highlight potential for a test beneath here. But positive daily readings and improving weekly charts are expected to limit scope in renewed buying interest/consolidation above congestion around 0.8650. Meanwhile, resistance remains at 0.8737 and extends to 0.8750. A close above here is needed to turn sentiment positive and extend December gains beyond the 0.8766 monthly high of November 2023 and 0.8772, (GBP/EUR 1.1400).