Chart EUR/GBP Update: Immediate tests lower to remain limited
Consolidation around congestion resistance at 0.8500 is giving way to fresh selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8575 | 2 Jul high | S1 | 0.8480 | minor break level | |||
| R3 | 0.8547 | ** | GBP/EUR 1.1700 | S2 | 0.8475 | GBP/EUR 1.1800 | ||
| R2 | 0.8515 | * | 17 Jul high | S3 | 0.8470 | ** | 61.8% ret of 2024-2025 rally | |
| R1 | 0.8500 | ** | congestion | S4 | 0.8455 | ** | 15 Jul YTD low |
Asterisk denotes strength of level
08:45 BST - Consolidation around congestion resistance at 0.8500 is giving way to fresh selling interest, as intraday studies turn down, with prices approaching minor support at 0.8480. A break beneath here will put focus back on the 0.8470 Fibonacci retracement. But rising daily readings should limit any immediate break in fresh consolidation above the 0.8455 current year low of 15 July. Broader weekly charts are under pressure. But a close beneath 0.8455 is needed to turn sentiment negative and confirm continuation of November 2025 losses. Meanwhile, resistance is at 0.8500 and extends to the 0.8515 high of 17 July. A close above here is needed to turn sentiment positive and open up resistance at 0.8547, (GBP/EUR 1.1700).