Chart EUR/GBP Update: Fresh year high
The anticipated test of strong resistance at the 0.8818 monthly high of 29 October has extended to a fresh 2025 year high around 0.8830
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8900 | congestion | S1 | 0.8800 | * | figure | ||
| R3 | 0.8875 | * | April 2023 high | S2 | 0.8772 | * | GBP/EUR 1.1400 | |
| R2 | 0.8850 | * | GBP/EUR 1.1300, cong | S3 | 0.8740 | intraday break level | ||
| R1 | 0.8818 | * | 29 Oct (m) high | S4 | 0.8720 | congestion |
Asterisk denotes strength of level
08:45 GMT - The anticipated test of strong resistance at the 0.8818 monthly high of 29 October has extended to a fresh 2025 year high around 0.8830, before falling back below 0.8818. Overbought intraday studies are unwinding and overbought daily stochastics are flattening, suggesting potential for a test below 0.8800. But the positive daily Tension Indicator and rising weekly charts should limit scope in renewed buying interest towards support at 0.8772, (GBP/EUR 1.1400). Following cautious trade, fresh gains are looked for. A close above 0.8818 would improve price action and extend December 2024 gains initially towards strong resistance at 0.8850.