TRENDING:

GBP/USD

XAU/USD

EUR/GBP ends the week knocking on the ceiling near 0.87

The EUR/GBP made a late-week break for the 0.87 handle.
The Pound Sterling continues to give up ground after a dovish BoE shrank from rate hikes,
EU PMI figures came in mixed, keeping Euro gains restrained.

Joshua Gibson FXStreet

The EUR/GBP stretched for the 0.8700 major handle in Friday trading, closing the week with over a full percent of upside gains with the Euro (EUR) seeing its best trading week against the Pound Sterling (GBP) since early February.

BoE balks on rate hike, EU Manufacturing PMI misses the mark

The Bank of England (BoE) pulled back from a broadly-anticipated rate hike this Thursday after inflation figures for the UK economy came in broadly lower than expected. The UK central bank is seeing inflation fall away faster than previously expected, and the BoE is set to see a "none and done" end to the rate hike cycle.

Eurozone Purchasing Manager Index (PMI) figures came in mixed early Friday, with the headline Composite PMI for September printing at 47.1, reversing the forecast decline 46.5 and climbing further from the previous period's 46.7.

The underlying components were less positive, leaving the Euro with limited upside following the release.

The EU Services PMI printed at 48.4, well above the forecast 47.7 and improving from the previous 47.9.

The Manufacturing component flubbed market forecasts, printing a disappointing 43.4, ticking down from the previous 43.5 and entire missing the market's expected improvement to 44.0.

Eurozone Preliminary Manufacturing PMI unexpectedly falls to 43.4 in September vs. 44.0 expected

Next week is particularly anemic for both the Euro and the Pound Sterling, though next Friday will be seeing Gross Domestic Product (GDP) figures for the UK, to be closely followed by Consumer Index Price (CPI) numbers for the Eurozone.

EUR/GBP technical outlook

The EUR/GBP managed to etch in another gainer week, coming within sight of the 200-day Simple Moving Average (SMA) currently treading water near 0.8720.

The pair has accelerated cleanly through the descending trendline from July's swing high into the 0.8700 handle, and continued buying pressure will see the pair mount the psychological level and stage further gains.

On the downside, immediate technical support is coming from the 100-day SMA, currently turning bullish from 0.8600, and the bottom of recent consolidation is sitting further below near 0.8520.

EUR/GBP daily chart

EUR/GBP technical levels

EUR/GBP

Overview
Today last price	0.8696
Today Daily Change	0.0026
Today Daily Change %	0.30
Today daily open	0.867

Trends
Daily SMA20	0.8591
Daily SMA50	0.8592
Daily SMA100	0.8604
Daily SMA200	0.8712

Levels
Previous Daily High	0.8696
Previous Daily Low	0.8627
Previous Weekly High	0.8631
Previous Weekly Low	0.8558
Previous Monthly High	0.8669
Previous Monthly Low	0.8493
Daily Fibonacci 38.2%	0.8669
Daily Fibonacci 61.8%	0.8653
Daily Pivot Point S1	0.8633
Daily Pivot Point S2	0.8596
Daily Pivot Point S3	0.8565
Daily Pivot Point R1	0.8702
Daily Pivot Point R2	0.8733
Daily Pivot Point R3	0.877

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD holds steady above 1.1750 as traders await FOMC Minutes

The EUR/USD pair holds steady near 1.1770 during the early Asian session on Tuesday. Traders continue to price in the prospect of further rate cuts by the US Federal Reserve in 2026, following the 25-basis-point rate reduction delivered at the December meeting. The release of the Federal Open Market Committee Minutes will be in the spotlight later on Tuesday.

GBP/USD finds key support near 1.35 despite year-end grind

GBP/USD remains bolstered on the high end as markets grind through the last trading week of the year. Cable caught a bullish tilt to keep price action on the high side of the 1.3500 handle, though year-end holiday volumes are unlikely to see significant progress in either direction as 2025 draws to a close.

Gold holds above $4,300 after setting yet another record high

Spot Gold traded as high as $4,550 a troy ounce on Monday, fueled by persistent US Dollar weakness and a dismal mood. The XAU/USD pair was hit sharply by profit-taking during US trading hours and retreated towards $4,300, where buyers reappeared.

Ethereum: BitMine continues accumulation, begins staking ETH holdings

Ethereum treasury firm BitMine Immersion continued its ETH buying spree despite the seasonal holiday market slowdown. The company acquired 44,463 ETH last week, pushing its total holdings to 4.11 million ETH or 3.41% of Ethereum's circulating supply, according to a statement on Monday. That figure is over 50% lower than the amount it purchased the previous week.

Economic outlook 2026-2027 in advanced countries: Solidity test

After a year marked by global economic resilience and ending on a note of optimism, 2026 looks promising and could be a year of solid economic performance. In our baseline scenario, we expect most of the supportive factors at work in 2025 to continue to play a role in 2026.

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is. Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).