Published: 2025-07-14T07:58:50.000Z
Chart EUR/GBP Update: Room for higher
Senior Technical Strategist
3
Cautious trade has given way to a break higher in GBP-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8766 | ** | November 2023 (m) high | S1 | 0.8650 | intraday congestion | ||
| R3 | 0.8737 | ** | 11 Apr YTD high | S2 | 0.8620 | * | GBP/EUR 1.1600 | |
| R2 | 0.8695 | ** | GBP/EUR 1.1500 | S3 | 0.8600 | ** | congestion | |
| R1 | 0.8670 | ** | 2 Jul (w) high | S4 | 0.8547/50 | * | GBP/EUR 1.1700; cong |
Asterisk denotes strength of level
08:50 BST - Cautious trade has given way to a break higher in GBP-driven trade, with prices currently pressuring resistance at the 0.8670 weekly high of 2 July. Daily readings have turned mixed/positive and broader weekly charts continue to rise, highlighting room for a later break and continuation of late-May gains towards 0.8695, (GBP/EUR 1.1500). Continuation beyond here will open up critical resistance at the 0.8737 current year high of 11 April. Meanwhile, support is down to congestion around 0.8650. A close beneath here, if seen, will turn sentiment cautious and prompt consolidation within the 0.8600/20 range.