EUR/GBP posts modest gains above the mid-0.8500s, eyes on Eurozone HICP data

EUR/GBP posts modest gains around 0.8560 in Friday’s early European session.
Markets expect the first rate cut from the ECB in June meeting 25 bps and a total 75bps for this year.
BoE’s Ramsden said he wants to see how long inflation will remain elevated before considering a shifting monetary policy stance.

Lallalit Srijandorn FXStreet

The EUR/GBP pair holds positive ground above the mid-0.8500s during the early European trading hours on Friday. Investors await the Eurozone Harmonized Index of Consumer Prices (HICP) for fresh impetus. The cross currently trades near 0.8560, down 0.01% on the day.

The European Central Bank (ECB) is anticipated to take another step in its policy normalization process. The ECB President Christine Lagarde would rule out rate cuts at the March meeting, but financial markets believe that the first potential rate cuts might occur in the June meeting. The markets repriced policy easing expectations in February from around 150 basis points (bps) worth of rate cuts to 87 bps and expect the first rate cut in June of 25 bps and a total of 75 bps for this year.

The Bank of England (BoE) Deputy Governor Dave Ramsden said he wants to see how long inflation will remain elevated before considering shifting monetary policy stance. The BoE policymakers pushed back against market expectations for early interest rate cuts, which lift the Pound Sterling (GBP) and cap the downside of the EUR/GBP cross.

Looking ahead, market players will keep an eye on the Eurozone Harmonized Index of Consumer Prices (HICP) due on Friday, along with the HCOB Manufacturing PMI from Italy, France, and Germany. Additionally, the BoE's Huw Pill is set to speak later in the day. The attention will shift to the ECB interest rate decision next week. This event might trigger the volatility in the market and traders could find trading opportunities around the EUR/GBP cross.

EUR/GBP

Overview
Today last price	0.856
Today Daily Change	-0.0002
Today Daily Change %	-0.02
Today daily open	0.8562

Trends
Daily SMA20	0.8547
Daily SMA50	0.8579
Daily SMA100	0.8625
Daily SMA200	0.8612

Levels
Previous Daily High	0.857
Previous Daily Low	0.8551
Previous Weekly High	0.8578
Previous Weekly Low	0.8528
Previous Monthly High	0.8578
Previous Monthly Low	0.8498
Daily Fibonacci 38.2%	0.8563
Daily Fibonacci 61.8%	0.8558
Daily Pivot Point S1	0.8552
Daily Pivot Point S2	0.8541
Daily Pivot Point S3	0.8532
Daily Pivot Point R1	0.8571
Daily Pivot Point R2	0.8581
Daily Pivot Point R3	0.8591

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

GBP/USD bounces off one-week low amid Iran diplomacy hopes, ahead of UK CPI

The GBP/USD pair edges higher during the Asian session, snapping a four-day losing streak to the 1.3360 area, or a one-week low, touched the previous day. Spot prices, however, lack follow-through buying and trade below the 1.3400 mark, warranting caution before confirming that the recent pullback from an over two-month high has run its course.

EUR/USD holds gains above 1.1400 on hawkish ECB expectations despite US-Iran tensions

The EUR/USD pair trades with mild gains around 1.1405 during the early Asian session on Wednesday. A hawkish tone from the European Central Bank provides some support to the Euro against the US Dollar. Traders await the upcoming ECB interest rate decision on Thursday.

Gold: Strong recovery might face roadblock as oil price extends gains

Gold price extends its winning streak for the third trading day on Wednesday, trading 1.5% higher to near $4,140 during the Asian session. The precious metal recovered strongly in the past few trading days from its three-week low of $3,959.80 as traders scaled back Federal Reserve’s interest rate hike expectations for the monetary policy meeting next week.

Bitcoin holds firm as ONDO and GRAM lead rally

The broader cryptocurrency market is witnessing an easing of bearish momentum, with Bitcoin holding above $66,000 on Wednesday. Altcoins including Ondo and Gram, formerly known as Toncoin, are leading gains over the last 24 hours, driven by new features. Bitcoin holds above $66,000 on Wednesday, following a 2% surge the previous day.

UK CPI set to show receding inflation in June as GBP/USD fails at May highs

The UK Office for National Statistics will release the June Consumer Price Index figures on Wednesday at 06:00 GMT, a print that will matter for markets. Consensus expectations point to inflation pressures still above the Bank of England’s target, although losing further momentum.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.