Chart EUR/GBP Update: Cautious trade - studies under pressure
Little change, as prices extend choppy trade within the 0.8400 - 0.8425 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | |
| R3 | 0.8475 | * | GBP/EUR 1.1800 | S2 | 0.8375 | ** | 76.4% ret of 2024-2025 fall | |
| R2 | 0.8450 | ** | congestion | S3 | 0.8355 | ** | 29 May 2025 (m) low | |
| R1 | 0.8425 | break level | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
08:50 BST - Little change, as prices extend choppy trade within the 0.8400 - 0.8425 range. Daily readings are under pressure and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. A later close below strong support at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900), will add weight to already bearish price action and extend broad November 2025 losses towards the 0.8375 Fibonacci retracement. However, already oversold daily stochastics could prompt short-covering towards here and limit any initial tests in consolidation, before bearish longer-term charts prompt further selling.
Meanwhile, resistance remains at 0.8425. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath congestion resistance at 0.8450.