Published: 2024-11-12T09:25:07.000Z
Chart EUR/GBP Update: Fresh year low - prices under pressure
Senior Technical Strategist
1
Anticipated losses have posted a fresh 2024 year low just below 0.8265, (GBP/EUR 1.2100), at 0.8259
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8375 | congestion | S1 | 0.8265 | * | GBP/EUR 1.2100 | ||
| R3 | 0.8350 | break level | S2 | 0.8259 | * | 11 Nov YTD low | ||
| R2 | 0.8333 | * | GBP/EUR 1.2000 | S3 | 0.8249 | ** | April 2022 low | |
| R1 | 0.8300 | congestion | S4 | 0.8215 | ** | 50% ret of 2015-2020 rally |
Asterisk denotes strength of level
09:10 GMT - Anticipated losses have posted a fresh 2024 year low just below 0.8265, (GBP/EUR 1.2100), at 0.8259, before bouncing smartly into consolidation beneath congestion resistance at 0.8300. Intraday studies are rising, unwinding oversold areas, suggesting potential for a test above here. But negative daily readings and mixed/negative weekly charts are expected to prompt renewed selling interest towards 0.8333, (GBP/EUR 1.2000). Following cautious trade, fresh losses are looked for. A later break below 0.8259 will add weight to sentiment and extend losses initially towards the 0.8249 low of April 2022.