Published: 2025-05-09T08:05:34.000Z
Chart EUR/GBP Update: Leaning lower in choppy trade
Senior Technical Strategist
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Anticipated losses have tested below 0.8473/75
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8600 | * | congestion | S1 | 0.8473/75 | ** | 20 Jan (m) high; GBP/EUR 1.1800 | |
| R3 | 0.8575 | * | congestion | S2 | 0.8450 | * | break level | |
| R2 | 0.8547 | ** | GBP/EUR 1.1700 | S3 | 0.8425 | congestion | ||
| R1 | 0.8500 | ** | congestion | S4 | 0.8400/03 | * | congestion; GBP/EUR 1.1900 |
Asterisk denotes strength of level
08:50 BST - Anticipated losses have tested below 0.8473/75, with prices meeting buying interest above 0.8450 as negative intraday studies flatten and oversold daily readings turn up. A bounce has put prices back above 0.8473/75 and opened up a test of congestion resistance at 0.8500. But the bearish daily Tension Indicator and negative weekly charts should limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A close below 0.8473/75 will add weight to sentiment and extend April losses back to 0.8450. A further close beneath here will open up 0.8400.