Published: 2025-04-22T08:44:28.000Z
Chart EUR/GBP Update: Cautious trade - daily studies leaning lower
Senior Technical Strategist
1
Little change, as prices extend cautious trade around congestion at 0.8600
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8695 | * | GBP/EUR 1.1500 | S1 | 0.8575 | * | congestion | |
| R3 | 0.8685 | ** | 61.8% ret of 2023-2024 fall | S2 | 0.8547 | ** | GBP/EUR 1.1700 | |
| R2 | 0.8620 | * | GBP/EUR 1.1600 | S3 | 0.8518 | ** | 10 Apr low | |
| R1 | 0.8600 | * | congestion | S4 | 0.8500 | ** | congestion |
Asterisk denotes strength of level
09:30 BST - Little change, as prices extend cautious trade around congestion at 0.8600. Just higher is 0.8620, (GBP/EUR 1.1600). But daily readings are under pressure and overbought weekly stochastics are unwinding, highlighting difficulty sustaining any immediate break. In the coming sessions, cautious trade is expected to give way to a test lower. A break below congestion support at 0.8575 will target 0.8547, (GBP/EUR 1.1700). But any deeper reactions are expected to give way to consolidation above strong support at the 0.8518 low of 10 April.