Chart EUR/GBP Update: Bouncing from fresh year lows
The break below support at 0.8333, (GBP/EUR 1.2000), has posted a fresh year low at 0.8322
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8425 | break level | S1 | 0.8333 | * | GBP/EUR 1.2000 | ||
| R3 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | S2 | 0.8315/22 | * | late-Mar 25 (w) low; 30 Oct YTD low | |
| R2 | 0.8380 | intraday highs | S3 | 0.8300 | * | congestion | ||
| R1 | 0.8365 | intraday break level | S4 | 0.8265 | * | GBP/EUR 1.2100 |
Asterisk denotes strength of level
09:10 GMT - The break below support at 0.8333, (GBP/EUR 1.2000), has posted a fresh year low at 0.8322, before bouncing steadily towards intraday resistance at 0.8365 as intraday studies turn higher. Daily readings are also rising and oversold weekly stochastics are turning up, suggesting room for a break above 0.8365 towards 0.8380. However, the bearish weekly Tension Indicator could limit any further gains in renewed selling interest/consolidation towards strong resistance at 0.8400/03.
Following cautious/corrective trade, fresh losses are looked for. A later close below 0.8322 will add weight to sentiment and extend November 2025 below the 0.8315 weekly low of late March 2025 towards congestion around 0.8300.