Chart EUR/GBP Update: Balanced above fresh year low - background under pressure
Cautious trade has posted a fresh year low around 0.8444
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8547 | ** | GBP/EUR 1.1700 | S1 | 0.8444/47 | ** | 7-12 Oct YTD lows | |
| R3 | 0.8532 | ** | 12 Aug (m) low | S2 | 0.8400/03 | ** | congestion; GBP/EUR 1.1900 | |
| R2 | 0.8500 | ** | congestion | S3 | 0.8375 | ** | 76.4% ret of 2024-2025 fall | |
| R1 | 0.8475 | * | GBP/EUR 1.1800 | S4 | 0.8333 | ** | GBP/EUR 1.2000 |
Asterisk denotes strength of level
09:20 BST - Cautious trade has posted a fresh year low around 0.8444, before settling into consolidation around 0.8455. Rising intraday studies and a tick higher in oversold daily stochastics highlight room for a bounce towards resistance at 0.8475, (GBP/EUR 1.1800). But the bearish daily Tension Indicator and negative weekly charts should limit any tests above here in renewed selling interest towards congestion resistance at 0.85/00.
Following cautious/corrective trade, fresh losses are looked for. A later close below 0.8444/47 will add weight to sentiment and extend broad November 2025 losses towards congestion around 0.8400 and 0.8403, (GBP/EUR 1.1900). However, by-then oversold weekly stochastics should limit any deeper losses in short-covering/consolidation above the 0.8375 Fibonacci retracement.