Published: 2025-02-20T09:00:11.000Z
Chart EUR/GBP Update: Prices remain under pressure
Senior Technical Strategist
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Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8378 | * | 6 Feb (w) high | S1 | 0.8265 | * | GBP/EUR 1.2100 | |
| R3 | 0.8350 | ** | congestion | S2 | 0.8222 | ** | 19 Dec 2024 (y) low | |
| R2 | 0.8333 | * | GBP/EUR 1.2000 | S3 | 0.8215 | ** | 50% ret of 2015-2020 rally | |
| R1 | 0.8300 | ** | congestion | S4 | 0.8195/00 | ** | GBP/EUR 1.2200; figure |
Asterisk denotes strength of level
08:50 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation following the test of support at 0.8265, (GBP/EUR 1.2100). However, daily readings continue to point lower and broader weekly charts are under pressure, highlighting room for continuation of January losses. A break beneath here will add fresh weight to sentiment and open up strong supports at the 0.8222 year low of 19 December 2024 and the 0.8215 Fibonacci retracement. Meanwhile, a close back above congestion resistance at 0.8300 would stabilise price action and prompt consolidation beneath 0.8333/50.