Published: 2025-05-12T08:31:41.000Z
Chart EUR/GBP Update: Under pressure
Senior Technical Strategist
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Anticipated losses have reached congestion around 0.8425
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | ** | GBP/EUR 1.1700 | S1 | 0.8425 | congestion | ||
| R3 | 0.8500 | ** | congestion | S2 | 0.8400/03 | * | congestion; GBP/EUR 1.1900 | |
| R2 | 0.8475 | ** | GBP/EUR 1.1800 | S3 | 0.8350 | * | congestion | |
| R1 | 0.8450 | * | break level | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
09:20 BST - Anticipated losses have reached congestion around 0.8425, where oversold intraday studies are prompting short-term reactions. Daily readings continue to track lower and broader weekly charts are also under pressure, highlighting room for further losses in the coming sessions. A break below 0.8425 will open up strong support at congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900), with room for continuation down to 0.8350. Meanwhile, resistance is lowered to 0.8450. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 0.8475.