Select Language

EUR/GBP Price Analysis: Euro holds steady near 0.8500 as mixed signals persist

Breaking news

EUR/GBP Price Analysis: Euro holds steady near 0.8500 as mixed signals persist

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
New update 2025.05.08 00:39
EUR/GBP Price Analysis: Euro holds steady near 0.8500 as mixed signals persist

update 2025.05.08 00:39

  • EUR/GBP trades near the 0.8500 zone after a quiet Wednesday session.
  • Overall tone remains bullish, supported by longer-term averages despite mixed short-term signals.
  • Support levels hold just below, while resistance aligns closely overhead.

The EUR/GBP pair remained relatively flat on Wednesday, hovering near the 0.8500 zone after the European session. Price action was contained within a narrow range, reflecting a market lacking clear directional momentum. While shorter-term indicators suggest some selling pressure, the broader structure remains bullish, supported by long-term moving averages that continue to trend upward.

From a technical standpoint, the pair presents a mixed picture. The Relative Strength Index sits near 50, confirming a neutral stance, while the Moving Average Convergence Divergence prints a sell signal, indicating potential near-term weakness. The Williams Percent Range and Average Directional Index are also neutral, pointing to a lack of strong directional bias in the immediate term.

However, the broader trend remains constructive. The 30-day Exponential Moving Average and 50-day Exponential Moving Average, both positioned just below current levels, reinforce the underlying bullish tone. Additionally, the 100-day and 200-day Simple Moving Averages, significantly lower, continue to slope upward, providing a sturdy base for the pair over the medium term.

Support is found at 0.8500, 0.8470, and 0.8452. Resistance is seen at 0.8508, 0.8510, and 0.8513. A sustained move above resistance could confirm the broader bullish outlook, while a break below support would likely lead to a retest of recent lows.

Daily Chart


Date

Created

 : 2025.05.08

Update

Last updated

 : 2025.05.08

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

USD/CHF rallies to over one-week top, close to mid-0.8300s on the tariff-block news

The USD/CHF pair regains positive traction following the previous day's directionless price move and jumps to over a one-week high, around the 0.8345-0.8350 area during the Asian session Thursday.
New
update2025.05.29 11:55

EUR/USD drops below 1.1250 as US Dollar appreciates ahead of Q1 GDP Annualized

EUR/USD extends its losing streak for the third successive session, trading around 1.1240 during the Asian hours on Thursday.
New
update2025.05.29 11:53

Japanese Yen dives to nearly two-week low against USD on tariff news

The Japanese Yen (JPY) attracts heavy selling during the Asian session on Thursday in reaction to the news that a US federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect.
New
update2025.05.29 11:39

USD/INR holds steady as US trade court blocks Trump's 'Liberation Day' tariffs

The Indian Rupee (INR) flat lines on Thursday. The month-end US Dollar (USD) demand and the headline surrounding the US court blocking US President Donald Trump's tariffs provide some support to the US Dollar (USD) and weigh on the Indian currency.
New
update2025.05.29 11:35

Australian Dollar holds losses following disappointing Private Capital Expenditure data

The Australian Dollar (AUD) remains subdued for the fourth successive session on Thursday, following disappointing Private Capital Expenditure data for the first quarter.
New
update2025.05.29 10:49

PBOC sets USD/CNY reference rate at 7.1907 vs. 7.1894 previous

The People's Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Thursday at 7.1907 as compared to the previous day's fix of 7.1894 and 7.2033 Reuters estimate.
New
update2025.05.29 10:15

Japan's Akazawa: Our basic position is to strongly request review of tariff policy

Japan's Economy Minister Ryosei Akazawa said on Thursday that his basic position is to strongly request review of tariff policy.
New
update2025.05.29 10:14

WTI rises above $62.00 as OPEC+ holds oil quotas

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $62.15 during the Asian trading hours on Thursday. The WTI price edges higher on supply concerns after OPEC+ agreed to leave their output policy unchanged. 
New
update2025.05.29 10:01

Explosive new intelligence report reveals Iran continues with its active nuclear weapons program

Austria's version of the FBI, the Federal Office for the Protection of the Constitution, claimed Iran is continuing with its active nuclear weapons program, which it says can be used to launch missiles over long distances, per Fox News. 
New
update2025.05.29 09:12

US court strikes down Donald Trump's 'Liberation Day' tariffs

On Wednesday, a US federal court blocked US President Donald Trump's "Liberation Day" tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. per Reuters. 
New
update2025.05.29 08:51

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel