Published: 2025-03-31T08:51:24.000Z
Chart EUR/GBP Update: Consolidating
Senior Technical Strategist
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The bounce from support at 0.8333, (GBP/EUR 1.200), is giving way to consolidation beneath resistance at 0.8375
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8450 | * | congestion | S1 | 0.8350 | ** | congestion | |
| R3 | 0.8430 | * | range lows | S2 | 0.8333 | * | GBP/EUR 1.2000 | |
| R2 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | S3 | 0.8315 | * | 28 Mar (w) low | |
| R1 | 0.8375 | * | break level | S4 | 0.8300 | * | congestion |
Asterisk denotes strength of level
09:35 BST - The bounce from support at 0.8333, (GBP/EUR 1.200), is giving way to consolidation beneath resistance at 0.8375, as overbought intraday studies unwind. Daily readings are rising, pointing to room for a later break above here. But negative weekly charts are expected to limit scope in renewed selling interest/consolidation beneath strong resistance at 0.8400/03. Meanwhile, support is at congestion around 0.8350 and extends to 0.8333. A close beneath here would add weight to sentiment and extend March losses towards congestion around 0.8300.