Published: 2026-09-08T07:54:40.000Z
Chart EUR/GBP Update: Leaning lower
6
Consolidation is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8650 | * | congestion | S1 | 0.8560 | * | congestion | |
| R3 | 0.8620 | * | GBP/EUR 1.1600 | S2 | 0.8547 | ** | GBP/EUR 1.1700 | |
| R2 | 0.8610 | * | 38.2% ret of Nov-Jul fall | S3 | 0.8532 | * | 12 Aug (m) low | |
| R1 | 0.8600 | ** | congestion | S4 | 0.8520 | congestion |
Asterisk denotes strength of level
08:35 BST - Consolidation is giving way to a drift lower, as intraday studies turn down, with prices currently trading around 0.8580. Overbought daily stochastics are unwinding and the flat daily Tension Indicator is coming under pressure, highlighting room for continuation down to congestion support at 0.8560. Just lower is 0.8547, (GBP/EUR 1.1700). However, rising weekly charts should limit any initial tests of this range in consolidation.
Meanwhile, resistance remains at congestion around 0.8600 and extends to the 0.8610 Fibonacci retracement. A close above here, if seen, will improve sentiment and extend July gains initially towards 0.8620, (GBP/EUR 1.1600).