Published: 2025-01-23T08:43:13.000Z
Chart EUR/GBP Update: Cautious trade - daily studies leaning lower
Senior Technical Strategist
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Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | ** | GBP/EUR 1.1700 | S1 | 0.8435 | break level | ||
| R3 | 0.8500 | ** | break level | S2 | 0.8400/03 | cong; GBP/EUR 1.1900 | ||
| R2 | 0.8475 | * | GBP/EUR 1.1800 | S3 | 0.8350 | ** | congestion | |
| R1 | 0.8464 | * | 11 Sep (m) high | S4 | 0.8333 | * | GBP/EUR 1.2000 |
Asterisk denotes strength of level
08:55 GMT - Still little change, as prices extend consolidation beneath resistance at the 0.8464 monthly high of 11 September and 0.8475, (GBP/EUR 1.1800). Intraday studies are mixed and rising daily readings are flattening, suggesting a cautious tone and difficulty sustaining any immediate break above here. A test below support at 0.8435 is looked for, with subsequent focus then turning to 0.8400/03. However, rising weekly charts should limit any initial tests in consolidation/buying interest. Meanwhile, a close above 0.8464/75, if seen, would improve sentiment once again and extend December gains towards resistance at 0.8500.