Chart EUR/GBP Update: Opening gains not sustained
The opening gains above 0.8680 has been pushed back from 0.8690
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8743 | ** | 31 Mar (w) high | S1 | 0.8660 | * | congestion | |
| R3 | 0.8725 | ** | congestion | S2 | 0.8640 | * | congestion | |
| R2 | 0.8695/00 | ** | GBP/EUR 1.1500; congestion | S3 | 0.8620 | ** | GBP/EUR 1.1600 | |
| R1 | 0.8680 | * | congestion | S4 | 0.8612 | ** | Feb-Mar YTD lows |
Asterisk denotes strength of level
08:50 BST - The opening gains above 0.8680 has been pushed back from 0.8690, with prices currently balanced in cautious trade beneath 0.8680. Overbought daily stochastics flat, suggesting room for fresh consolidation, before the rising daily Tension Indicator and improving weekly charts prompt fresh gains. A break back above congestion resistance at 0.8680 will extend late-May gains towards 0.8695/00. A further close above here will turn sentiment positive as congestion around 0.8725 then attracts. Meanwhile, support remains at congestion around 0.8660. A close beneath here, if seen, will give way to consolidation above further congestion around 0.8640.