Published: 2025-05-27T08:10:14.000Z
Chart EUR/GBP Update: Cautious trade - studies under pressure
Senior Technical Strategist
1
Prices are currently balanced in quiet trade within the 0.8380 - 0.8400/03 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8380 | * | 23 May (w) low | |
| R3 | 0.8475 | ** | GBP/EUR 1.1800 | S2 | 0.8350 | * | congestion | |
| R2 | 0.8450 | * | break level | S3 | 0.8333 | * | GBP/EUR 1.2000 | |
| R1 | 0.8400/03 | * | congestion; GBP/EUR 1.1900 | S4 | 0.8315 | ** | 28 Mar (w) low |
Asterisk denotes strength of level
08:55 BST - Prices are currently balanced in quiet trade within the 0.8380 - 0.8400/03 range. Daily readings are mixed/negative and broader weekly charts are bearish, highlighting room for a break below the 0.8380 weekly low of 23 May. Focus will then turn to 0.8333, (GBP/EUR 1.2000), and congestion around 0.8350. However, oversold weekly stochastics could limit any initial tests in consolidation, before prices extend losses still further. Meanwhile, a close above resistance at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900), if seen, will help to stabilise price action and give way to consolidation beneath 0.8450.