EUR/GBP Technical Outlook

EUR/GBP encountered significant resistance in the 0.8735/0.8765 area, representing the highs of November 2023 and April. Following this test, the pair experienced a pullback. An interim low has formed near 0.8590, successfully defending the 50-day moving average (DMA).

A short-term rebound towards 0.8700, corresponding to the 61.8% Fibonacci retracement level of the recent decline, cannot be ruled out. However, a breach of the recent swing low at 0.8590 could pave the way for a more substantial downward move.

Key Support and Resistance Levels:

  • Resistance: 0.8735/0.8765
  • Support: 0.8590

Potential Scenarios:

  • Bullish Scenario: A rebound towards 0.8700 if the support at 0.8590 holds firm.
  • Bearish Scenario: A deeper decline if the support at 0.8590 is breached.

Additional Considerations: Traders should closely monitor upcoming economic data releases from both the Eurozone and the United Kingdom, as well as any geopolitical developments that could impact the pair.

Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Traders should conduct their own research and consult with a financial professional before making any investment decisions. Examining factors like interest rate differentials between the Bank of England and the European Central Bank, and broader economic indicators, can provide additional context for understanding EUR/GBP movements.


Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.

Tin moi

Thứ bảy, 11 Tháng Mười 2025

Indices

Stablecoins as Key U.S. Treasury Market Players: A Look at Shifting Dynamics

Thứ bảy, 11 Tháng Mười 2025

Indices

Powell Paves Way for Rate Cut, But Economic Data Could Upend Bets

Thứ bảy, 11 Tháng Mười 2025

Indices

Japan PM Ishiba's Approval Ratings Surge Amid Election Performance Review