EUR/GBP Price Analysis: Euro steadies near 0.8500 amid mixed signals

EUR/GBP trades near the 0.8500 zone after Friday's European session.
Despite a slight intraday pullback, broader signals maintain a bullish tone.
Resistance seen near 0.8550; support clustered around the 0.8530–0.8520 area.

Patricio Martín FXStreet

The EUR/GBP pair was seen trading near the 0.8500 mark during Friday's session, edging lower intraday yet holding within the mid-range of 0.8511 to 0.8548. Investors appear cautious amid a light macroeconomic backdrop, with the pair moving in sync with subtle shifts in broader market sentiment.

Technically, the pair continues to exhibit a bullish structure despite the minor pullback. The 20, 100, and 200-day simple moving averages — currently at 0.8533, 0.8377, and 0.8388 respectively — all tilt upward, underscoring long-term strength. This is further backed by the 30-day exponential moving average and 30-day simple average, reinforcing a bullish bias around the 0.8498 and 0.8479 zones.

Momentum indicators show a more cautious outlook. The Relative Strength Index holds neutral, while the MACD hints at a possible bearish shift. The Stochastic %K and Commodity Channel Index also remain neutral, suggesting that directional conviction may be limited in the short term.

Support is stacked around 0.8533, 0.8533, and 0.8527, while resistance lies at 0.8553, 0.8556, and 0.8565. Traders may look for a clear break above the resistance cluster to confirm renewed upside interest. Until then, the pair may continue to oscillate within its current range, awaiting a catalyst.

Daily Chart

Author

Patricio Martín

FXStreet

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

USD/JPY eyes August swing low, near 155.20 ahead of US NFP

USD/JPY retests the August monthly swing low during the Asian session on Friday as a more hawkish repricing of BoJ rate-hike bets and a suspected intervention continue to underpin the Japanese Yen. Meanwhile, the US Dollar is seen consolidating the previous day's heavy losses amid soft US bond yields, further weighing on the currency pair as traders keenly await the US NFP report.

AUD/USD consolidates above 0.7200; US NFP awaited

AUD/USD holds steady above 0.7200, near its highest level since mid-May, as bulls await the US NFP report for more cues on the Fed's policy path before placing fresh bets. Meanwhile, the recent decline in US bond yields keeps the US Dollar depressed near its lowest level in over a week and acts as a tailwind for the Aussie amid the RBA's hawkish tilt.

Gold tumbles as blockbuster US NFP lift US Dollar, Treasury yields

Gold (XAU/USD) falls sharply on Friday, snapping a two-day recovery after the US Nonfarm Payrolls (NFP) report surprised strongly to the upside. The metal briefly climbed above $4,500 on Thursday, gaining nearly 2%, but has since erased a large part of that advance.

Crypto’s $638 million buyback boom may not be as bullish as it looks

Decentralized Finance (DeFi) protocols reportedly spent $638 million to buy back their native tokens in August, up 17% from a year earlier. On the surface, the buyback trend suggests the cryptocurrency industry is maturing fast, adopting one of Wall Street’s oldest tools to bolster valuations and distribute revenue. The headline becomes less impressive once the number is opened up.

Why hawkish Bank of Japan expectations aren't enough to sustain the Japanese Yen rally

The Japanese Yen (JPY) experienced a sudden burst higher after falling back below the 160.00 psychological mark against the US Dollar (USD) earlier this week amid a more hawkish repricing of Bank of Japan (BoJ) rate hike expectations.

Diesel’s record $100 warning: The oil shock hiding in plain sight

The Oil market may look calmer than it did a few months ago, but diesel is sending a very different message. The US diesel crack spread, the premium of ultra-low sulphur diesel futures over WTI, recently surged above $100 per barrel for the first time, reaching an intraday record of just over $102.00.