Published: 2025-08-18T08:06:07.000Z
Chart EUR/GBP Update: Gains to remain limited
Senior Technical Strategist
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The anticipated break above 0.8620, (GBP/EUR 1.1600), has reached 0.8635~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8752 | ** | 28 Jul YTD high | S1 | 0.8620 | * | GBP/EUR 1.1600 | |
| R3 | 0.8737 | ** | 11 Apr (m) high | S2 | 0.8600 | ** | cong, 38.2% ret | |
| R2 | 0.8695 | ** | GBP/EUR 1.1500 | S3 | 0.8555 | ** | 50% ret of May-Jul rally | |
| R1 | 0.8650 | ** | congestion | S4 | 0.8547/50 | ** | GBP/EUR 1.1700; cong |
Asterisk denotes strength of level
08:50 BST - The anticipated break above 0.8620, (GBP/EUR 1.1600), has reached 0.8635~, where unwinding overbought intraday studies are prompting short-term reactions. Oversold daily stochastics are unwinding, suggesting potential for continuation towards congestion resistance at 0.8650. But the negative daily Tension Indicator and bearish weekly charts are expected to limit any tests in renewed selling pressure. Following cautious/corrective trade, fresh losses are looked for. A later close below strong support at 0.8600 will add weight to sentiment and extend late-July losses towards the 0.8547/50 - 0.8555 range.