Published: 2025-05-22T06:51:39.000Z
Chart EUR/GBP Update: Higher in consolidation from .8400/.8385 support
Technical Analyst
1
Extending bounce from test of the June/July lows at .8400/.8385 to consolidate losses from the April high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8520 | ** | 16 Apr low | S1 | 0.8400 | * | Jun low | |
| R3 | 0.8500 | * | congestion | S2 | 0.8385 | * | Jul low | |
| R2 | 0.8475 | ** | congestion, Jan high | S3 | 0.8350 | * | congestion | |
| R1 | 0.8450 | * | congestion, Mar high | S4 | 0.8315 | ** | 28 Mar low |
Asterisk denotes strength of level
06:45 GMT - Extending bounce from test of the June/July lows at .8400/.8385 to consolidate losses from the April high. Bounce see prices unwinding the oversold daily studies to reach strong resistance at the .8450/.8475, congestion and January high. Would take break here to fade the downside pressure and open up room for stronger bounce to retrace losses from the .8737, April YTD high. Clearance will see room to the .8500/20 congestion area. Meanwhile, support at the .8400/.8385 lows should underpin and keep losses in check.