EUR/GBP Price Analysis: Drops to near three-week lows, below mid-0.8800s

EUR/GBP remained depressed for the sixth straight session on Tuesday.
The technical set-up support prospects for an extension of the downfall.

Haresh Menghani FXStreet

The EUR/GBP cross extended its recent sharp pullback from multi-year tops and witnessed some follow-through selling for the sixth consecutive session.

The downtick, also marking its eighth day of a negative move in the previous nine, extended further below the 50% Fibonacci level of 0.8282-0.9500 upsurge.

This comes on the back of the recent break below a descending triangle on short-term charts and supports prospects for an extension of the bearish trajectory.

Meanwhile, technical indicators on the daily chart have just started gaining negative momentum and further add credence to the pair's negative outlook.

Hence, a further near-term downfall, towards testing the 0.8800 mark en-route 1.8% Fibo. support near the 0.8740 region, now looks a distinct possibility.

However, oscillators on the 1-hourly chart are already flashing slightly oversold conditions and warrant some caution before placing aggressive bearish bets.

EUR/GBP 4-hourly chart

Technical levels to watch

EUR/GBP

Overview
Today last price	0.8847
Today Daily Change	-0.0049
Today Daily Change %	-0.55
Today daily open	0.8896

Trends
Daily SMA20	0.8976
Daily SMA50	0.8653
Daily SMA100	0.8583
Daily SMA200	0.8754

Levels
Previous Daily High	0.8988
Previous Daily Low	0.8866
Previous Weekly High	0.9388
Previous Weekly Low	0.8905
Previous Monthly High	0.8644
Previous Monthly Low	0.8282
Daily Fibonacci 38.2%	0.8913
Daily Fibonacci 61.8%	0.8942
Daily Pivot Point S1	0.8845
Daily Pivot Point S2	0.8795
Daily Pivot Point S3	0.8723
Daily Pivot Point R1	0.8967
Daily Pivot Point R2	0.9038
Daily Pivot Point R3	0.9089

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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.