Chart EUR/GBP Update: Sharp bounce from fresh year low
The anticipated break lower has posted a fresh year low around 0.8425~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | ** | GBP/EUR 1.1700 | S1 | 0.8450 | ** | congestion | |
| R3 | 0.8532 | ** | 12 Aug (m) low | S2 | 0.8425~ | ** | 14 Oct YTD low | |
| R2 | 0.8500 | ** | congestion | S3 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | |
| R1 | 0.8475 | * | GBP/EUR 1.1800 | S4 | 0.8375 | ** | 76.4% ret of 2024-2025 fall |
Asterisk denotes strength of level
09:20 BST - The anticipated break lower has posted a fresh year low around 0.8425~, before bouncing sharply into fresh consolidation above 0.8450. Intraday studies are mixed/positive and daily readings are improving, suggesting room for further gains in the coming sessions. A break above 0.8475, (GBP/EUR 1.1800), will improve sentiment and open up congestion around 0.8500. But negative weekly charts should limit any further strength in renewed consolidation/selling interest beneath the 0.8532 monthly low of 12 August.
Following cautious/corrective trade, fresh losses are looked for. A break below 0.8450 will open up 0.8425. A further close beneath here will turn sentiment negative and extend broad November 2025 losses initially towards 0.8400/03.