Published: 2025-03-11T09:13:49.000Z
Chart EUR/GBP Update: Room for still higher
Senior Technical Strategist
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Anticipated gains have reached resistance within 0.8430/50
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | * | congestion | S1 | 0.8400/03 | ** | cong; GBP/EUR 1.1900 | |
| R3 | 0.8473/75 | ** | 20 Jan YTD high; GBP/EUR 1.1800 | S2 | 0.8350 | ** | congestion | |
| R2 | 0.8450 | * | congestion | S3 | 0.8333 | * | GBP/EUR 1.2000 | |
| R1 | 0.8430 | *- | range lows | S4 | 0.8300 | ** | congestion |
Asterisk denotes strength of level
08:55 GMT - Anticipated gains have reached resistance within 0.8430/50, as intraday studies continue to rise, with prices currently trading around 0.8435. Daily stochastics are flat in overbought areas, suggesting potential for consolidation within here. But the daily Tension Indicator continues to strengthen and broader weekly charts are also turning up, suggesting room for a later break above here and continuation of February gains towards strong resistance within 0.8473/75. Meanwhile, support is at 0.8400/03. A close beneath here, if seen, would turn sentiment neutral and prompt consolidation above congestion support at 0.8350.