Chart EUR/GBP Update: Further consolidation
Little change, as prices extend cautious trade within the 0.8333 - 0.8365 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8425 | break level | S1 | 0.8333 | * | GBP/EUR 1.2000 | ||
| R3 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | S2 | 0.8315/22 | * | late-Mar 25 (w) low; 30 Oct YTD low | |
| R2 | 0.8380 | intraday highs | S3 | 0.8300 | * | congestion | ||
| R1 | 0.8365 | intraday break level | S4 | 0.8265 | * | GBP/EUR 1.2100 |
Asterisk denotes strength of level
09:00 GMT - Little change, as prices extend cautious trade within the 0.8333 - 0.8365 range. Daily readings are rising and flat oversold weekly stochastics are ticking higher, suggesting room for a test of 0.8365. But any break should meet renewed selling interest towards the 0.8380 intraday highs.
Following cautious/corrective trade, fresh losses are looked for. A later close below 0.8333, (GBP/EUR 1.2000), will open up the 0.8322 current year low of 30 October. Continuation beneath here will add weight to sentiment and extend November 2025 losses below the 0.8315 weekly low of late March 2025 initially towards congestion around 0.8300.