Published: 2025-07-04T08:04:50.000Z
Chart EUR/GBP Update: Leaning lower
Senior Technical Strategist
2
The anticipated pullback has extended to congestion support at 0.8600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8737 | ** | 11 Apr YTD high | S1 | 0.8600 | ** | congestion | |
| R3 | 0.8695 | ** | GBP/EUR 1.1500 | S2 | 0.8547/50 | * | GBP/EUR 1.1700; cong | |
| R2 | 0.8670 | * | 2 Jul high | S3 | 0.8520 | * | congestion | |
| R1 | 0.8620 | * | GBP/EUR 1.1600 | S4 | 0.8500 | * | congestion |
Asterisk denotes strength of level
08:55 BST - The anticipated pullback has extended to congestion support at 0.8600, where mixed/negative intraday studies are prompting consolidation. Immediate focus is on 0.8620, (GBP/EUR 1.1600). But daily stochastics are turning down and the positive daily Tension Indicator is flattening, suggesting any immediate break should prove unsustainable. In the coming sessions, a test below 0.8600 cannot be ruled out. However, rising weekly charts are expected to prompt renewed buying interest towards strong support at 0.8547, (GBP/EUR 1.1700), and congestion around 0.8550.