Published: 2024-11-14T09:26:46.000Z
Chart EUR/GBP Update: Balanced trade
Senior Technical Strategist
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Minor gains have been pushed back from beneath resistance at 0.8350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8400/03 | cong; GBP/EUR 1.1900 | S1 | 0.8300 | congestion | |||
| R3 | 0.8375 | congestion | S2 | 0.8265 | * | GBP/EUR 1.2100 | ||
| R2 | 0.8350 | * | break level | S3 | 0.8259 | ** | 11 Nov YTD low | |
| R1 | 0.8333 | * | GBP/EUR 1.2000 | S4 | 0.8249 | ** | April 2022 low |
Asterisk denotes strength of level
09:15 GMT - Minor gains have been pushed back from beneath resistance at 0.8350, with prices once again balanced in cautious trade above congestion support at 0.8300. Intraday studies are under pressure, highlighting potential for a test beneath here. But rising daily readings are expected to limit scope in fresh buying interest above strong support within 0.8259/65. Meanwhile, resistance remains at 0.8333, (GBP/EUR 1.2000), and extends to 0.8350. A close above here is needed to improve price action and extend gains initially to congestion around 0.8375.