Published: 2025-04-24T08:52:26.000Z
Chart EUR/GBP Update: Cautious trade - daily studies under pressure
Senior Technical Strategist
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The fresh test below 0.8547, (GBP/EUR 1.1700), has bounced from 0.8530~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8685 | ** | 61.8% ret of 2023-2024 fall | S1 | 0.8547 | ** | GBP/EUR 1.1700 | |
| R3 | 0.8620 | * | GBP/EUR 1.1600 | S2 | 0.8518 | ** | 10 Apr low | |
| R2 | 0.8600 | * | congestion | S3 | 0.8500 | ** | congestion | |
| R1 | 0.8575 | * | congestion | S4 | 0.8473/75 | ** | 20 Jan (m) high; GBP/EUR 1.1800 |
Asterisk denotes strength of level
09:45 BST - The fresh test below 0.8547, (GBP/EUR 1.1700), has bounced from 0.8530~, as oversold intraday studies turn higher, with prices currently trading around 0.8550. A break above here will open up congestion resistance within 0.8575/00. But negative daily readings are expected to limit any tests in renewed selling interest/consolidation. Following cautious trade, fresh losses are looked for. A break back below 0.8547 will open up the 0.8518 low of 10 April, with a further close beneath here turning sentiment negative and extending April losses below 0.8500 towards 0.8473/75.