EUR/GBP Price Analysis: Bulls hold ground despite mixed signals post-European session

EURGBP trades near the 0.8550 zone, holding modest daily gains after Thursday’s European session.
Bullish momentum is underpinned by positive signals from key moving averages despite mixed indicators.
Support rests near 0.8525–0.8527; resistance capped by the 0.8550–0.8560 region.

Patricio Martín FXStreet

The EURGBP pair moved steadily near the 0.8550 zone on Thursday, holding onto slight intraday gains following the European session. The broader context remains dominated by Fed-related headlines, with investors reacting to cautious remarks from Governor Waller regarding tariffs and their economic implications. Meanwhile, US Dollar weakness following Trump and Bessent’s conflicting tariff messaging helped lift the euro modestly, though not without hesitation.

From a technical standpoint, EURGBP is flashing a bullish overall signal despite intraday consolidation. The pair is navigating the mid-range of 0.8534 to 0.8565, with the Relative Strength Index (RSI) at approximately 54 and signaling neutral momentum. The MACD is still flashing a mild sell signal, yet this is contrasted by slight buying pressure from Bull Bear Power. The Average Directional Index (ADX) remains below the trending threshold, confirming a lack of directional strength.

However, a key element of support for the bullish case lies in the moving averages. The 20-day, 100-day, and 200-day simple moving averages at 0.8525, 0.8374, and 0.8388 respectively are aligned to the upside. Similarly, the 30-day exponential and simple moving averages — at 0.8495 and 0.8475 — reinforce upward structure.

Daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD: Gains remain capped by 1.1650

EUR/USD remains in recovery-mode following the closing bell in Euroland on Wednesday, hovering around the 1.1650 zone amid renewed downside pressure on the US Dollar and a marginal improvement in the global sentiment.

GBP/USD appears bid around 1.3370

GBP/USD reverses part of its recent multi-day decline, gathering some balance and managing to reach the 1.3400 region, where some initial resistance seems to have turned up. Cable’s uptick comes in response to some loss of momentum in the Greenback despite the geopolitical scenario remaining fragile.

Gold recovers modestly despite intensifying Middle East crisis

Gold keeps its daily gains well in place, although a break above the $5,200 mark per troy ounce still remains elusive on Wednesday. The yellow metal’s rebound comes in response to the persistent flight-to-safety amid intense geopolitical tensions in the Middle East and the bearish performance of the US Dollar.