Chart EUR/GBP Update: Choppy trade - gains to remain limited
The test above congestion resistance at 0.8650 has been pushed back from 0.8655~
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8695/00 | ** | GBP/EUR 1.1500; congestion | S1 | 0.8640 | intraday lows | ||
| R3 | 0.8685 | * | 14 Apr (w) low | S2 | 0.8612/20 | ** | 19 Mar YTD low; GBP/EUR 1.1600 | |
| R2 | 0.8670 | * | congestion | S3 | 0.8600 | * | break level | |
| R1 | 0.8650 | * | congestion | S4 | 0.8547 | * | GBP/EUR 1.1700 |
Asterisk denotes strength of level
09:00 BST - The test above congestion resistance at 0.8650 has been pushed back from 0.8655~, as intraday studies turn down, with prices currently trading within the tight 0.8640 - 0.8650 range. Daily readings continue to rise, highlighting room for a retest above 0.8650. But negative weekly charts should limit scope in renewed selling interest/consolidation beneath further congestion around 0.8670. Following cautious trade, fresh losses are looked for. A break below support at 0.8640 will add weight to sentiment. But a further close below the 0.8612 current year low of 19 March and 0.8620, (GBP/EUR 1.1600), is needed to confirm continuation of November 2025 losses below 0.8600 towards strong support at the 0.8540 Fibonacci retracement and 0.8547, (GBP/EUR 1.1700).