BT Group shares test key resistance after heavy UK market selloff
After a sharp correction, BT Group is back in an area where the short-term direction could change quickly. Buyers now need to show that the latest wave of selling has genuinely run its course.
194.80
200.10
Geopolitical risks were a major source of pressure. Reports of an attack on a tanker in the Strait of Hormuz, combined with news that Saudi Aramco would not supply European refiners with crude next month, sharply increased concerns over energy availability.
A more restrictive Bank of England backdrop added to the pressure. Policymakers kept Bank Rate at 3.75%, but the decision passed by a 6–3 vote, with three MPC members favoring an increase to 4%. The Bank also said inflation risks had shifted higher as energy prices rose.
GBX 200–202 becomes the key recovery zone
BT Group shares fully played out the setup outlined earlier. The price broke through GBX 207 resistance and once again tested GBX 210 before reversing sharply toward the GBX 198 target area.
For today, attention shifts to the GBX 200–202 zone, where the 50-day and 200-day SMAs are located. A break and sustained move above both averages would reopen the possibility of another test of GBX 207–210.
If buyers fail to reclaim that area, the shares could extend the decline toward the next support near GBX 194.50.
Market stabilization could give BT room to recover
The broader UK market backdrop now matters more. If pressure from energy prices and geopolitical risks begins to ease, BT could have room to recover some of its recent losses.
After such a sharp decline, the immediate test is whether buyers can push the shares back above GBX 200–202. Without that recovery, and in the absence of a stronger company-specific catalyst, BT may remain vulnerable to further selling pressure.
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