Chart EUR/GBP Update: Prices remain under pressure
Little change, as prices extend consolidation around congestion support at 0.8720
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8840 | * | 20 Nov (w) high | S1 | 0.8720 | * | congestion | |
| R3 | 0.8800 | * | break level | S2 | 0.8695/00 | * | GBP/EUR 1.1500; cong | |
| R2 | 0.8772 | * | GBP/EUR 1.1400 | S3 | 0.8670 | ** | October range lows | |
| R1 | 0.8750 | * | congestion | S4 | 0.8620 | * | GBP/EUR 1.1600 |
Asterisk denotes strength of level
09:25 GMT - Little change, as prices extend consolidation around congestion support at 0.8720. Intraday studies are rising, suggesting potential for a test higher. But negative daily readings and mixed/negative weekly charts are expected to limit scope in renewed selling interest beneath congestion resistance at 0.8750. In the coming sessions, further losses are looked for. A break below 0.8720 will open up support at 0.8695, (GBP/EUR 1.1500), and congestion around 0.8700. Still lower are the 0.8670 October range lows. Meanwhile, an unexpected close above 0.8750 will help to stabilise price action and prompt consolidation beneath 0.8772, (GBP/EUR 1.1400).