EUR/GBP Price Analysis: Eyes further losses around 0.8350, focus on three-week-old support

EUR/GBP seesaws around 50-SMA while renewing intraday low.
MACD teases sellers, sustained trading below 200-DMA adds to the bearish bias.
Short-term support line may test bears ahead of monthly low.

Anil Panchal FXStreet

EUR/GBP remains on the back foot around intraday low, down 0.60% intraday around 0.8350 while heading into Monday’s European session.

The cross-currency pair refreshed weekly top on Friday but the risk-aversion wave portrayed a gap-down opening.

The downside momentum also takes clues from the pair’s inability to cross 200-SMA. Also favoring the pair sellers is the bear cross of the MACD and signal line, as well as a U-turn from 50% Fibonacci retracement of February 03-07 upside.

That said, the quote’s latest declines eye an upward sloping support line from February 03, around 0.8320 by the press time. However, the 0.8300 threshold and the monthly low near 0.8285 will challenge EUR/GBP bears afterward.

On the contrary, the 200-SMA and the latest swing high, respectively near 0.8365 and 0.8405, challenge short-term rebound of the USD/CHF prices.

Following that, the 0.8415 and the monthly high near 0.8480 will add to the upside filters for the air buyers.

EUR/GBP: Four-hour chart

Trend: Further weakness expected

additional important levels

Overview
Today last price	0.8349
Today Daily Change	-0.0051
Today Daily Change %	-0.61%
Today daily open	0.84

Trends
Daily SMA20	0.8378
Daily SMA50	0.838
Daily SMA100	0.8432
Daily SMA200	0.8497

Levels
Previous Daily High	0.8406
Previous Daily Low	0.8346
Previous Weekly High	0.8406
Previous Weekly Low	0.8306
Previous Monthly High	0.8423
Previous Monthly Low	0.8305
Daily Fibonacci 38.2%	0.8383
Daily Fibonacci 61.8%	0.8369
Daily Pivot Point S1	0.8361
Daily Pivot Point S2	0.8323
Daily Pivot Point S3	0.83
Daily Pivot Point R1	0.8422
Daily Pivot Point R2	0.8445
Daily Pivot Point R3	0.8483

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

AUD/USD stays weak above 0.6900 after China’s trade data

AUD/USD struggles to capitalize on the previous day’s recovery and stays defensive on the 0.6900 level following the narrowing of trade surplus in China. Increased December Fed rate hike bets allows the US Dollar to pause its decline and weigh on the pair. US CPI data is next of note for the major.

USD/JPY retakes 158.00 on weak Japanese data; focus shifts to US CPI

USD/JPY attracts some dip-buyers and retakes 158.00 in the Asian session on Tuesday as a fall in Japan’s Household Spending offsets hawkish BoJ Summary of Opinions, undermining the Japanese Yen. Moreover, Fed hike bets support the safe-haven US Dollar and the currency pair. The market focus now shifts to the release of the crucial US CPI report.

Gold slides below $4,100 as Fed hike bets exert pressure ahead of US CPI

Gold extends its intraday descent and slides below the $4,100 mark, reversing a major part of the previous day's strong gains to the $4,150 resistance. Firming US Federal Reserve rate-hike expectations turn out to be a key factor driving flows away from the non-yielding bullion. Meanwhile, the US Dollar struggles to lure buyers amid mixed signals regarding the state of diplomatic talks between the US and Iran. This could offer some support to the commodity as traders seem hesitant ahead of US consumer inflation figures.

Pi Network rebounds from record lows, exits oversold territory as momentum improves

Pi Network (PI) shows a strong recovery on Tuesday, up over 7% after recording its all-time low of $0.0624 the previous day. PI token’s appeal in the derivatives market shows minor improvement, with Open Interest rising to $6.21 million.

US CPI data set to ease in October as markets reassess Fed rate hike expectations

The US Bureau of Labor Statistics will publish the October Consumer Price Index data on Tuesday, a release that could influence the US Dollar valuation as investors reassess the Federal Reserve’s interest-rate outlook. The report won’t include 12-month percentage changes for most CPI series in this release, due to missing October 2025 monthly data because of the lack of collection during the government shutdown from October 1, 2025, to November 12, 2025.

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.