Published: 2025-06-25T08:02:58.000Z
Chart EUR/GBP Update: Leaning lower
Senior Technical Strategist
2
Cautious trade is giving way to a drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8620 | * | GBP/EUR 1.1600 | S1 | 0.8520 | congestion | ||
| R3 | 0.8600 | ** | congestion | S2 | 0.8500 | ** | congestion | |
| R2 | 0.8575 | * | 23 Jun high | S3 | 0.8475 | ** | GBP/EUR 1.1800 | |
| R1 | 0.8547/50 | * | GBP/EUR 1.1700; cong | S4 | 0.8450 | * | break level |
Asterisk denotes strength of level
08:55 BST - Cautious trade is giving way to a drift lower, as intraday studies turn down, with prices currently pressuring congestion support at 0.8520. Overbought daily stochastics are unwinding and the daily Tension Indicator has also turned down, highlighting room for continuation down to further congestion around 0.8500. A break beneath here will open up 0.8475, (GBP/EUR 1.1800). But rising weekly charts are expected to limit any initial tests in renewed consolidation. Meanwhile, resistance remains at 0.8547, (GBP/EUR 1.1700), and congestion around 0.8550. This tight range should cap any immediate tests higher.