Chart EUR/GBP Update: Fresh 2025 year high
The anticipated break above 0.8800 has posted a fresh 2025 year high at 0.8818
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8875 | * | April 2023 high | S1 | 0.8772 | * | GBP/EUR 1.1400 | |
| R3 | 0.8850 | * | GBP/EUR 1.1300, cong | S2 | 0.8740 | intraday break level | ||
| R2 | 0.8818 | * | 29 Oct YTD high | S3 | 0.8720 | congestion | ||
| R1 | 0.8800 | * | figure | S4 | 0.8695/00 | ** | GBP/EUR 1.1500; cong |
Asterisk denotes strength of level
08500 GMT - The anticipated break above 0.8800 has posted a fresh 2025 year high at 0.8818, before turning back into consolidation around 0.8800. Intraday studies are falling and overbought daily stochastics are flat, suggesting potential for a deeper reaction. But the positive daily Tension Indicator and improving weekly charts should limit scope in renewed buying interest above support at 0.8772, (GBP/EUR 1.1400). A later break above 0.8800/18 will improve sentiment and open up strong resistance at 0.8850, where fresh consolidation is expected to appear. Meanwhile, a close below 0.8772 would add weight to sentiment and give way to consolidation within 0.8720/40.