Published: 2025-02-19T08:58:13.000Z
Chart EUR/GBP Update: Fresh 2025 lows
Senior Technical Strategist
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The anticipated break below 0.8300 has reached support at 0.8265/70
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8378 | * | 6 Feb (w) high | S1 | 0.8270 | congestion lows | ||
| R3 | 0.8350 | ** | congestion | S2 | 0.8265 | * | GBP/EUR 1.2100 | |
| R2 | 0.8333 | * | GBP/EUR 1.2000 | S3 | 0.8222 | ** | 19 Dec 2024 (y) low | |
| R1 | 0.8300 | ** | congestion | S4 | 0.8215 | ** | 50% ret of 2015-2020 rally |
Asterisk denotes strength of level
08:45 GMT - The anticipated break below 0.8300 has reached support at 0.8265/70, where flat oversold intraday studies are prompting short-term reactions. However, daily readings continue to point lower and broader weekly charts are under pressure, highlighting room for continuation of January losses. A break below 0.8265/70 will add fresh weight to sentiment and open up strong supports at the 0.8222 year low of 19 December 2024 and the 0.8215 Fibonacci retracement. Meanwhile, a close back above 0.8300 would stabilise price action and prompt consolidation beneath 0.8333/50.