Chart EUR/GBP Update: More positive above 0.8473/75
Anticipated gains have reached resistance within congestion around 0.8450 and 0.8473/75
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | ** | GBP/EUR 1.1700 | S1 | 0.8430 | * | range lows | |
| R3 | 0.8500 | ** | congestion | S2 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | |
| R2 | 0.8473/75 | ** | 20 Jan YTD high; GBP/EUR 1.1800 | S3 | 0.8375 | * | break level | |
| R1 | 0.8450 | * | congestion | S4 | 0.8350 | ** | congestion |
Asterisk denotes strength of level
11:40 BST - Anticipated gains have reached resistance within congestion around 0.8450 and 0.8473/75, where unwinding overbought intraday studies are prompting short-term reactions. Daily readings continue to rise, and broader weekly charts are improving, suggesting room for still further strength in the coming sessions. However, a close above the 0.8473 current year high of 20 January and 0.8475, (GBP/EUR 1.1800), is needed to confirm a more significant rally and continuation of December gains. Meanwhile, support is raised to the 0.8430 range lows and extends to 0.8400/03. This range should underpin any immediate setbacks.