EUR/GBP Price Analysis: Pair dips near range low despite bullish backdrop

EUR/GBP trades near the 0.8500 zone after sliding from earlier session levels
Despite the retreat, indicators and averages continue to favor a bullish setup
Support emerges around 0.8544 and 0.8507, with resistance seen near 0.8642

Patricio Martín FXStreet

EUR/GBP edged lower on Tuesday after the European session, retreating toward the bottom of its intraday range while holding just above key technical levels. The pair was last seen near the 0.8500 area, down modestly on the day, yet broader signals still point to underlying bullish strength.

Momentum indicators remain mixed. The Relative Strength Index (RSI) is neutral at 58.46, showing no immediate threat of overbought or oversold conditions, while the Moving Average Convergence DIvergence (MACD) prints a bullish crossover, suggesting upward momentum could resume. Both the Stochastic %K at 69.95 and the Ultimate Oscillator at 49.06 are also neutral, offering limited directional bias in the short term.

Key moving averages continue to support the bullish case. The 10-day EMA at 0.85468 and SMA at 0.85441 provide dynamic support, while longer-term averages — the 20-day SMA at 0.84520, 100-day at 0.83568, and 200-day at 0.83826 — all trend higher and sit comfortably below current price levels.

Daily chart

Author

Patricio Martín

FXStreet

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

AUD/USD regains mild traction, falters near 0.7150

AUD/USD gathers some steam and manages to flirt with the 0.7150 level on Thursday. However, the pair has retraced some of Wednesday’s significant pullback due to renewed selling pressure on the Greenback and a slight improvement in risk sentiment following hopes of a deal in the Middle East. Wrapping up the Australian docket, the RBA’s Hauser will speak early on Friday.

USD/JPY: Japanese Yen coiled at the line, leaning on everyone but Japan

The Yen is doing very little, and that stasis is the whole story. USD/JPY sits glued near 160.00 not because Japan has found new strength, but because two outside forces are fighting to a draw over it: a US rate complex that keeps the dollar bid, and a Ministry of Finance that refuses to let the line break.

Gold puts its 200-day SMA to the test near $4,420

Gold keeps the bullish stance in place in the latter part of Thursday’s session, although a convincing break above the key $4,500 mark per troy ounce still remains elusive. The precious metal’s advance comes amid the resurgence of some selling interest around the Greenback, improving risk sentiment, and declining US Treasury yields across the board.

Bitcoin falls below $64K as demand turns negative, short-term holders' selling intensifies

Bitcoin has fallen below $64,000 on Thursday amid weakening market demand and mounting selling pressure from short-term holders. The leading cryptocurrency slipped toward the $63,000 level amid a broader risk-off environment, with several key metrics signaling one of the most challenging periods of the current market cycle.

Nonfarm payrolls: Testing the limits of Fed policy patience

The upcoming nonfarm payrolls report for May will provide the final update on the US labor market before Kevin Warsh attends his first policy meeting as the new Fed Chair later this month.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.