EUR/GBP Price Analysis: Pair holds neutral bias at the start of the week

EUR/GBP trades near the 0.85 area after slipping during Monday’s session.
Momentum indicators remain mixed, with shorter-term signals leaning bearish.
Key support rests near 0.8498, while resistance zones cluster around 0.8525.

Patricio Martín FXStreet

After Monday’s European session, the EUR/GBP pair was seen trading near the 0.85 zone, having moved lower earlier in the day. The pair slipped moderately and remains neutral overall, staying contained within today’s trading range. On the technical front, the Relative Strength Index (RSI) holds close to the 50 mark, showing neutrality, while the Moving Average Convergence Divergence (MACD) presents a sell signal. Other momentum indicators like the Williams Percent Range and the Ultimate Oscillator also display neutral stances. Meanwhile, a divergence between shorter and longer-term moving averages suggests some underlying uncertainty.

On the technical side, shorter-term pressure is evident, with the 20-day Simple Moving Average (SMA) near 0.8540 flashing a bearish signal as the pair trades beneath it. However, longer-term support persists, as both the 100-day SMA around 0.8379 and the 200-day SMA near 0.8389 continue to suggest a bullish trend over a broader horizon. The Ichimoku Base Line, flat around 0.8527, reinforces the neutral bias for now.

Support for EUR/GBP is located around the 0.8498 mark, followed by deeper cushions near 0.8482 and 0.8459. On the upside, resistance can be seen near 0.8515, with additional barriers at 0.8525 and 0.8527. Given the combination of a sell signal from the MACD and neutral readings from the Williams Percent Range and Ultimate Oscillator, the pair could remain in consolidation unless either buyers or sellers take stronger control in the next sessions.

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 stuck as the RBA talks tough into a slowdown

The Australian Dollar is going nowhere in a hurry, and the contradiction at its core explains why. The Reserve Bank of Australia keeps dangling the prospect of another hike, yet the economy it governs just expanded 0.3% in the first quarter, a clear step down from the prior pace. A central bank threatening to tighten into a visible slowdown is not a recipe for conviction in either direction, and the tape shows it.

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 declines below $4,500 on stalled US-Iran ceasefire talks, US NFP data looms

Gold price edges lower to near $4,470 during the early Asian session on Friday. The precious metal remains volatile amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

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.