Published: 2025-05-19T06:58:20.000Z
Chart EUR/GBP Update: Consolidating test of strong support at .8400/.8385
Technical Analyst
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Consolidating test of strong support at the .8400/.8385, June/July lows
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8520 | ** | 16 Apr low | S1 | 0.8400 | * | Jun low | |
| R3 | 0.8500 | * | congestion | S2 | 0.8385 | * | Jul low | |
| R2 | 0.8475 | ** | congestion, Jan high | S3 | 0.8350 | * | congestion | |
| R1 | 0.8450 | * | break level | S4 | 0.8315 | ** | 28 Mar low |
Asterisk denotes strength of level
06:50 GMT - Consolidating test of strong support at the .8400/.8385, June/July lows. Prices are unwinding oversold intraday and daily studies but the downside remains vulnerable and break here cannot be ruled out. Weekly studies highlights risk for break to further extend loses from the April high towards the .8350 congestion then .8315 low of 28 March. Meanwhile, resistance is at the .8450/.8475 congestion area and January high which is expected to cap. Would take break here to ease the downside pressure and clear the way for stronger recovery to .8500/20 congestion and 16 April low.