Published: 2026-06-01T09:18:06.000Z
Chart EUR/GBP Update: Sharp reversal
1
The anticipated test of congestion resistance at 0.8680 has given way to sharp selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8725 | * | congestion | S1 | 0.8640 | intraday lows | ||
| R3 | 0.8695/00 | ** | GBP/EUR 1.1500; congestion | S2 | 0.8612/20 | ** | Feb-Mar YTD lows; GBP/EUR 1.1600 | |
| R2 | 0.8680 | * | congestion | S3 | 0.8600 | ** | congestion | |
| R1 | 0.8660 | * | congestion | S4 | 0.8540 | ** | 50% ret of 2024-2025 rally |
Asterisk denotes strength of level
10:00 BST - The anticipated test of congestion resistance at 0.8680 has given way to sharp selling interest, with prices currently trading around 0.8650. Focus is on support at 0.8640. But oversold intraday studies and the flat daily Tension Indicator could limit any initial tests in consolidation, before deteriorating daily stochastics and weekly studies prompt further losses towards critical support within the 0.8600 - 0.8612/20 range. Meanwhile, resistance is lowered to congestion around 0.8660. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 0.8680.