Chart EUR/GBP Update: Lower in range - studies under pressure
Consolidation beneath congestion resistance at 0.8650 has given way to drift lower to support within the 0.8613 monthly low of 4 February and 0.8620, (GBP/EUR 1.1600)
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8715~ | * | 4-5 Mar high | S1 | 0.8613/20 | ** | 4 Feb (m) low; GBP/EUR 1.1600 | |
| R3 | 0.8695/00 | * | GBP/EUR 1.1500; cong | S2 | 0.8600 | * | congestion | |
| R2 | 0.8670 | * | congestion | S3 | 0.8547 | * | GBP/EUR 1.1700 | |
| R1 | 0.8650 | * | congestion | S4 | 0.8540 | ** | 50% ret of 2024-2025 rally |
Asterisk denotes strength of level
09:10 GMT - Consolidation beneath congestion resistance at 0.8650 has given way to drift lower to support within the 0.8613 monthly low of 4 February and 0.8620, (GBP/EUR 1.1600). Prices are currently balanced above here, oversold intraday studies flatten. But daily readings have turned down and broader weekly charts continue to track lower, highlighting room for fresh losses in the coming sessions. A close beneath here will add weight to sentiment and extend November losses below congestion around 0.8600 towards 0.8540/47. Meanwhile, resistance remains at 0.8650 and should continue to cap any immediate tests higher.