Published: 2025-10-08T07:47:55.000Z
Chart EUR/GBP Update: Under pressure
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Cautious trade beneath resistance at 0.8695/00 is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8765 | ** | November 2023 high | S1 | 0.8650 | ** | congestion | |
| R3 | 0.8752 | ** | 28 Jul YTD high | S2 | 0.8620 | * | GBP/EUR 1.1600 | |
| R2 | 0.8737 | ** | 11 Apr (m) high | S3 | 0.8600 | ** | cong, 38.2% ret | |
| R1 | 0.8695/00 | ** | GBP/EUR 1.1500; cong | S4 | 0.8555 | ** | 50% ret of May-Jul rally |
Asterisk denotes strength of level
08:55 BST - Cautious trade beneath resistance at 0.8695/00 is giving way to a drift lower, as intraday studies turn down, with focus on congestion support at 0.8650. Daily readings remain bearish and broader weekly charts are under pressure, highlighting room for a later break towards stronger support within 0.8620, (GBP/EUR 1.1600) and 0.8600. Already oversold daily stochastics could limit any initial tests of this range in consolidation, before further losses unfold. Meanwhile, a close back above 0.8695/00, if seen, would help to stabilise price action and prompt consolidation beneath critical resistance within 0.8737/52.