Published: 2024-12-03T06:42:43.000Z
Chart EUR/GBP Update: Consolidating above .8267/.8259 lows
Technical Analyst
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Little change, as prices holds steady above the .8267/.8259 lows
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8383 | ** | Jul low | S1 | 0.8267 | * | 22 Nov low | |
| R3 | 0.8375 | * | 19 Nov high | S2 | 0.8259 | ** | 11 Nov YTD low | |
| R2 | 0.8350 | * | congestion | S3 | 0.8249 | * | Apr 2022 low | |
| R1 | 0.8300/20 | * | figure, congestion | S4 | 0.8203 | ** | 7 Mar 2022 year low |
Asterisk denotes strength of level
06:35 GMT - Little change, as prices hold steady above the .8267/8259 lows. Negative daily studies keeps focus on the downside and see scope to retest the .8267 and .8259 lows. Break of these will see room for to extend the underlying bear trend from the 2022 high for retest of the .8249 low of April 2022 then the .8203, March 2022 year low. Meanwhile, resistance is lowered to the .8300/20 congestion area and this is expected to cap corrective bounce. Only above here will open up room for stronger bounce to the .8350 congestion and .8375/.8383 area.