EUR/GBP Price Forecast: Reaches major support level at historic lows

EUR/GBP has fallen to a key support level as it drills ever lower.
The pair is in an overall downtrend supporting more downside, however, bearish momentum remains tepid.

Joaquin Monfort FXStreet

EUR/GBP has fallen to a key support line at the level of the October 1 and 18 lows, in a zone between 0.8295 - 0.8310. It is currently bouncing although the trajectory of the short, medium and long-term trends is probably still bearish. Given the technical analysis principle that “the trend is your friend” this suggests the odds favor more downside. A break below the October support floor, therefore, remains a distinct possibility.

EUR/GBP 4-hour Chart

If EUR/GBP manages to break below the 0.8295 level (October 18 low) it will probably confirm a decisive break below the aforementioned support. This, in turn, would likely see prices fall further, with the next potential downside target at the 0.8250 round number and then the lower channel line around 0.8220.

The Relative Strength Index (RSI) momentum indicator is relatively elevated compared to the oversold levels it reached during the early-October lows. This suggests a lack of downside momentum which might be a sign further weakness will be limited.

In addition, the pair is at historic lows, and further losses would be well below the pair’s long-term average.

Author

Joaquin Monfort

FXStreet

Joaquin Monfort is a financial writer and analyst with over 10 years experience writing about financial markets and alt data. He holds a degree in Anthropology from London University and a Diploma in Technical analysis.

EUR/USD attempts some consolidation near 1.1750

EUR/USD is staying firmly supported and hovering near two-day highs around 1.1750 on Thursday, shaking off the mild pullback seen a day earlier. The pair is benefiting from a friendlier risk backdrop, underpinned by easing EU–US trade tensions and a softer Greenback. Moving forward, markets’ attention will be on the release of flash PMIs in Europe and the US on Friday.

GBP/USD flirts with 1.3500 on persistent USD selling

GBP/USD is regaining momentum on Thursday and pushing up towards two-week highs around the 1.3500 mark. In the process, Cable is leaving Wednesday’s brief wobble behind and slipping back into its upward trend, helped by ongoing selling pressure on the Greenback ahead of key advanced PMI data on Friday.

Gold: The $5,000 mark is just around the corner

Gold extends its impresive rally for yet another day on Thursday, this time surpassing the $4,900 mark per troy ounce to hit record highs on the back of the marked pullback in the US Dollar. The move is unfolding even as global risk appetite improves, after Donald Trump reversed course on Greenland, a shift that has helped cool broader geopolitical tensions.

Crypto Today: Bitcoin, Ethereum, XRP post modest gains as ETF selling pressure intensifies

Bitcoin rises marginally above $90,000, but intense ETF selling pressure continues to weigh on the asset. Ethereum trades around $3,000 amid broader crypto market volatility and waning institutional interest. XRP ticks up for the second consecutive day despite subdued retail demand.

Trump walks back NATO tariffs, signals de-escalation

What began as a sharp escalation risk quickly turned into a de-escalation signal. Earlier this week, markets briefly priced in escalation risk after Donald J. Trump proposed a 10% tariff hike on eight NATO nations amid the Greenland dispute.

XRP defends $1.90 support as ETFs attract inflows despite retail caution

Ripple (XRP) is consolidating above $1.90, a short-term support level, at the time of writing on Thursday. This mild uptick marks two consecutive days of a strengthening technical outlook, following recent market-wide volatility.