Published: 2025-05-08T07:54:53.000Z
Chart EUR/GBP Update: Consolidating - studies under pressure
Senior Technical Strategist
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Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8620 | * | GBP/EUR 1.1600 | S1 | 0.8500 | ** | congestion | |
| R3 | 0.8600 | * | congestion | S2 | 0.8473/75 | ** | 20 Jan (m) high; GBP/EUR 1.1800 | |
| R2 | 0.8575 | * | congestion | S3 | 0.8450 | * | break level | |
| R1 | 0.8547 | ** | GBP/EUR 1.1700 | S4 | 0.8425 | congestion |
Asterisk denotes strength of level
08:45 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around congestion support at 0.8500. Daily readings are under pressure and broader weekly charts are also deteriorating, highlighting room for fresh losses in the coming sessions. However, a close below 0.8473/75 is needed to turn sentiment negative and extend April losses initially towards 0.8450. meanwhile, resistance remains at 0.8547, (GBP/EUR 1.1700), and should continue to cap any immediate tests higher.