Chartbook: Chart EUR/GBP: Room for lower in the coming weeks

Choppy trade following the anticipated pullback from the November 2025 year high at 0.8865 has met renewed selling interest beneath 0.8800,

with prices currently balanced in cautious trade above congestion support at 0.8600.

Weekly stochastics and the weekly Tension Indicator have turned down, highlighting room for still further losses into early 2026 Q2.

A close beneath 0.8600 will add weight to sentiment and extend November losses towards the 0.8545 Fibonacci retracement, with room for further continuation towards congestion around 0.8500.

Just beneath here is the 0.8470 retracement and 0.8475, (GBP/EUR 1.1800). But already oversold weekly stochastics could limit any initial tests of this broad 0.8470 - 0.8500 range in short-covering/consolidation.

Meanwhile, resistance remains at congestion around 0.8800 and extends to 0.8865.

Deteriorating monthly charts should limit any immediate bounce into this range in profit-taking/consolidation.

However, longer-term charts are rising, pointing to later gains in the coming months/quarters.

A close above 0.8865 is needed to turn sentiment positive and extend December 2024 gains towards psychological resistance at 0.9000 and 0.9090, (GBP/EUR 1.1000).

Beyond here is the 0.9275 year high of September 2022.

(A decisive break below the 0.8215 multi-year Fibonacci retracement would negate higher levels and complete a multi-year distribution top beneath 0.9500.)