Chart EUR/GBP Update: Leaning lower
Little change, as prices extend cautious/choppy trade around support at 0.8695, (GBP/EUR 1.1500)
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8772 | * | GBP/EUR 1.1400 | S1 | 0.8695 | ** | GBP/EUR 1.1500 | |
| R3 | 0.8766 | ** | November 2023 high | S2 | 0.8650 | ** | congestion | |
| R2 | 0.8752~ | ** | 28 Jul YTD high | S3 | 0.8620 | * | GBP/EUR 1.1600 | |
| R1 | 0.8737 | ** | 11 Apr (m) high | S4 | 0.8600 | ** | cong, 38.2% ret |
Asterisk denotes strength of level
08:40 BST - Little change, as prices extend cautious/choppy trade around support at 0.8695, (GBP/EUR 1.1500). Intraday studies are falling, suggesting room for a break beneath here. But rising daily stochastics are expected to limit initial scope in renewed consolidation above congestion support at 0.8650. However, the daily Tension Indicator is flat and overbought weekly stochastics are unwinding, pointing to risk of a later break beneath here towards 0.8600/20. Meanwhile, resistance remains at the 0.8737 monthly high of 11 April and extends to the 0.8752 current year high of 28 July. This range should cap any immediate tests higher.