Published: 2024-12-05T06:46:26.000Z
Chart EUR/GBP Update: Under pressure, .8267/.8259 lows at risk
Technical Analyst
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Under pressure following break of the .8300 level with the .8267/8259 lows now at risk
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8383 | ** | Jul low | S1 | 0.8267 | * | 22 Nov low | |
| R3 | 0.8375 | * | 19 Nov high | S2 | 0.8259 | ** | 11 Nov YTD low | |
| R2 | 0.8350 | * | congestion | S3 | 0.8249 | * | Apr 2022 low | |
| R1 | 0.8300/20 | * | figure, congestion | S4 | 0.8203 | ** | 7 Mar 2022 year low |
Asterisk denotes strength of level
06:45 GMT - Under pressure following break of the .8300 level with the .8267/8259 lows now at risk. Negative daily studies seen weighing and break here will see room to extend the underlying bear trend from the 2022 high for retest of the .8249 low of April 2022. Lower still will see scope to retest the .8203, March 2022 year low. Meanwhile, resistance is lowered to the .8300/20 congestion area and this is expected to cap and limited on corrective bounce. Only above here will ease the downside pressure and open up stronger bounce to the .8350 congestion and .8375/.8383 area.