Published: 2025-09-01T07:56:07.000Z
Chart EUR/GBP Update: Gains to remain limited
Senior Technical Strategist
-
The anticipated break above 0.8650 has reached the 0.8672 weekly high of 22 August
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8752 | ** | 28 Jul YTD high | S1 | 0.8650 | ** | congestion | |
| R3 | 0.8737 | ** | 11 Apr (m) high | S2 | 0.8620 | * | GBP/EUR 1.1600 | |
| R2 | 0.8695 | ** | GBP/EUR 1.1500 | S3 | 0.8600 | ** | cong, 38.2% ret | |
| R1 | 0.8672 | * | 22 Aug (w) high | S4 | 0.8555 | ** | 50% ret of May-Jul rally |
Asterisk denotes strength of level
08:45 BST - The anticipated break above 0.8650 has reached the 0.8672 weekly high of 22 August, where selling pressure is prompting fresh consolidation above 0.8650. Intraday studies have ticked higher and daily readings are rising, highlighting room for further strength in the coming sessions. A break above 0.8672 will open up 0.8695, (GBP/EUR 1.1500). But mixed/negative weekly charts are expected to limit any further break in renewed selling interest beneath 0.8373/52. Meanwhile, a break back below congestion support at 0.8650 should meet fresh buying interest within 0.8600/20.