Published: 2026-05-12T08:07:48.000Z
Chart EUR/GBP Update: Sharp run higher
2
Choppy trade has given way to a sharp GBP-driven break higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8750 | ** | congestion | S1 | 0.8670 | * | congestion | |
| R3 | 0.8743 | * | 31 Mar (w) high | S2 | 0.8650 | * | congestion | |
| R2 | 0.8720 | congestion | S3 | 0.8640 | intraday lows | |||
| R1 | 0.8695/00 | ** | GBP/EUR 1.1500; congestion | S4 | 0.8612/20 | ** | 19 Mar YTD low; GBP/EUR 1.1600 |
Asterisk denotes strength of level
09:00 BST - Choppy trade has given way to a sharp GBP-driven break higher, with immediate focus turning to strong resistance at 0.8695, (GBP/EUR 1.1500), and congestion around 0.8700. Daily readings continue to rise and oversold weekly stochastics are ticking higher, highlighting room for continuation above here towards congestion around 0.8720. However, daily stochastics are approaching overbought areas, and the weekly Tension Indicator is flat, suggesting any immediate tests of here could give way to renewed consolidation. Meanwhile, support is raised to congestion around 0.8670, and should underpin any immediate setbacks.