EUR/GBP Technical Analysis: Awaits UK jobs data/Carney to breakthrough a 1-week old trading range

Haresh Menghani FXStreet

• The cross has been oscillating within a broader trading range over the past one-week or so, forming a rectangular chart pattern on the 1-hourly chart.

• With bulls managing to keep the cross above 100-hour SMA, positive short-term technical indicators support prospects for a bullish breakout.

• The BoE Governor Mark Carney and Deputy Governor Jon Cunliffe's testimony followed by the key US jobs data might provide the required momentum to finally break through the trading range.

EUR/GBP 1-hourly chat

Spot rate: 0.8853
Daily Low: 0.8842
Trend: Sideways

Resistance levels
R1: 0.8865 (R1 daily pivot-point)
R2: 0.8902 (over 4-month tops set last Monday)
R3: 0.8935 (horizontal zone)

Support levels
S1: 0.8823 (200-day SMA)
S2: 0.8801 (S2 daily pivot-point)
S3: 0.8787 (100-day SMA)

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

EUR/USD gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.