Published: 2025-12-08T07:26:14.000Z
Chart EUR/GBP Update: Consolidating, room for lower later
1
Bounce above channel support from the August low see prices unwinding oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8865 | ** | 14 Nov YTD high | S1 | 0.8720/00 | * | Aug channel, congestion | |
| R3 | 0.8840 | * | 20 Nov high | S2 | 0.8670 | * | congestion | |
| R2 | 0.8800 | * | congestion | S3 | 0.8655/50 | ** | Oct low, congestion | |
| R1 | 0.8780 | * | congestion | S4 | 0.8632 | * | Sep low |
Asterisk denotes strength of level
07:20 GMT - Bounce above channel support from the August low see prices unwinding oversold intraday studies and consolidating pullback from the .8800 resistance. Gains are seen corrective and expected to give way to renewed selling pressure later to retrace gains from the May low. Break of the .8720/00 support will open up room for deeper pullback to strong support at the .8655/50, October low and congestion area. Meanwhile, resistance at the .8870/.8800 congestion area is expected to cap and sustain pullback from .8865, 14 November current year high.