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EUR/GBP Price Forecast: Euro appreciates, approaching highs at 0.8740

  • EUR/GBP appreciates further on Wednesday to test weekly highs at 0.8740.
  • The pair is on track to a 5.5% yearly appreciation in 2025.
  • Key resistance remains at December's peak in the 0.8800 area.

The EUR/GBP is trading higher for the second consecutive day on a holiday-thinned trading session on Wednesday. The pair has reached levels above 0.8730, after bouncing from mid-term lows near 0.8700 to test weekly highs in the 0.8740 area at the time of writing.

The Euro is behaving better than the Pound amid a moderately cautious market, in the absence of key fundamental drivers. Looking from a wider perspective, the pair remains 0.7% below mid-December highs but on track to close the year with a 5.5% appreciation.

Technical Analysis: Bulls are likely to be challenged above 0.8740

Chart Analysis EUR/GBP

In the 4-hour chart, EUR/GBP trades at 0.8735, little changed on a daily basis. The Moving Average Convergence Divergence (MACD) has turned positive around the zero line, suggesting a strengthening bullish momentum. The RSI prints 57, rising above the 50 midline and pointing to improving upside pressure.

Immediate resistance aligns with last Monday's high, at 0.8739, which is likely to test the strength of the pair's recovery. Further up, the next targets are the December 19 high, at 0.8773, and the key resistance area around 0.8800 (December 2, 16, and 17 highs)

Support is seen at Tuesday's low of 0.8706, ahead of the mid-October lows between 0.8655 and 0.8665.

(The technical analysis of this story was written with the help of an AI tool)

Pound Sterling Price Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.

USDEURGBPJPYCADAUDNZDCHF
USD0.00%0.21%0.11%0.07%0.17%0.44%0.09%
EUR-0.00%0.19%0.09%0.08%0.16%0.43%0.08%
GBP-0.21%-0.19%-0.11%-0.14%-0.03%0.24%-0.10%
JPY-0.11%-0.09%0.11%-0.03%0.08%0.34%0.01%
CAD-0.07%-0.08%0.14%0.03%0.11%0.35%0.03%
AUD-0.17%-0.16%0.03%-0.08%-0.11%0.26%-0.08%
NZD-0.44%-0.43%-0.24%-0.34%-0.35%-0.26%-0.34%
CHF-0.09%-0.08%0.10%-0.01%-0.03%0.08%0.34%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

Author

Guillermo Alcala

Graduated in Communication Sciences at the Universidad del Pais Vasco and Universiteit van Amsterdam, Guillermo has been working as financial news editor and copywriter in diverse Forex-related firms, like FXStreet and Kantox.

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