Chart EUR/GBP Update: Consolidating sharp losses - studies under pressure
Cautious trade has given way to a sharp pullback to support at 0.8613/20
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8685 | * | 14 Apr (w) low | S1 | 0.8613/20 | ** | 4 Feb (m) low; GBP/EUR 1.1600 | |
| R3 | 0.8670 | * | congestion | S2 | 0.8600 | * | break level | |
| R2 | 0.8650 | * | congestion | S3 | 0.8547 | * | GBP/EUR 1.1700 | |
| R1 | 0.8640 | intraday lows | S4 | 0.8540 | ** | 50% ret of 2024-2025 rally |
Asterisk denotes strength of level
09:45 BST - Cautious trade has given way to a sharp pullback to support at 0.8613/20, where flat oversold daily stochastics are prompting fresh consolidation. The daily Tension Indicator is bearish and broader weekly charts are turning down, highlighting a deterioration in sentiment and room for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend November 2025 losses below 0.8600 towards strong support at the 0.8540 Fibonacci retracement and 0.8547, (GBP/EUR 1.1700). Meanwhile, resistance is lowered to 0.8540 and extends to 0.8550. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath congestion around 0.8670.