EUR/GBP Price Analysis: Bulls remain defensive below 0.8600

EUR/GBP accumulates minor gains on Monday.
Cross lacks directional strength, needs confirmation for additional gains.
Momentum oscillator favors downside momentum.

Rekha Chauhan Independent Analyst

The EUR/GBP price moves cautiously with minor gains on the first trading day of the week. The cross confides in a very narrow trade band.

At the time of writing, EUR/GBP trades at 0.8595, up 0.06% for the day.

EUR/GBP daily chart

On the daily chart, the EUR/GBP cross has been consolidating near the 0.8590 mark. The cross moves under the broader rectangle formation between 0.8590-08720. The formation of Doji candlestick near the recent trading levels indicates indecisiveness among market participants.

If price sustained below the session’s low, the level mentioned earlier, then it could first target Friday’s low at 0.8575.

The receding Moving Average Convergence Divergence (MACD) indicator signals the impending downward movement of the cross-Currency pair. Any downtick in MACD would amplify the selling pressure toward the 0.8550 horizontal support level.

The price action also coincides with the breaking of the rectangle formation, which could prompt EUR/GBP bears to test the March 30 low at 0.8523.

Alternatively, if price decisively breaks the 0.8600 level, then it would crawl back to the 50-day Simple Moving Average (SMA) at 0.8625 followed by the 0.8650 horizontal resistance zone.

The next area of resistance would be the May 25 high at 0.8671 for the EUR/GBP cross.

EUR/GBP Additional Levels

EUR/GBP

Overview
Today last price	0.8597
Today Daily Change	0.0006
Today Daily Change %	0.07
Today daily open	0.8591

Trends
Daily SMA20	0.8624
Daily SMA50	0.8626
Daily SMA100	0.8679
Daily SMA200	0.8859

Levels
Previous Daily High	0.8607
Previous Daily Low	0.8575
Previous Weekly High	0.8672
Previous Weekly Low	0.8575
Previous Monthly High	0.872
Previous Monthly Low	0.8472
Daily Fibonacci 38.2%	0.8595
Daily Fibonacci 61.8%	0.8587
Daily Pivot Point S1	0.8575
Daily Pivot Point S2	0.8559
Daily Pivot Point S3	0.8543
Daily Pivot Point R1	0.8607
Daily Pivot Point R2	0.8622
Daily Pivot Point R3	0.8638

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.