Created
: 2025.07.02
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
EUR/GBP Price Forecast: Keeps bullish vibe, first upside target emerges near 0.8600
World FX news
Breaking news
EUR/GBP Price Forecast: Keeps bullish vibe, first upside target emerges near 0.8600
New
2025.07.02 14:23
2025.07.02 14:23
2025.07.02 14:23
- EUR/GBP softens to near 0.8580 in Wednesday's early European session.
- The positive view of the cross prevails above the key 100-day EMA with the bullish RSI indicator.
- The first upside barrier emerges in the 0.8595-0.8600 region; the initial support level to watch is 0.8516.
The EUR/GBP cross loses traction to around 0.8580 during the early European session on Wednesday. The Euro (EUR) edges lower against the Pound Sterling (GBP) amid tariff negotiations uncertainty.
Technically, the constructive outlook of EUR/GBP remains in place as the cross is well-supported above the key 100-day Exponential Moving Average (EMA) on the daily chart. The upward momentum is reinforced by the 14-day Relative Strength Index (RSI), which stands above the midline near 65.45, displaying bullish momentum in the near term.
The high of June 30 and the round figure in the 0.8595-0.8600 zone act as an immediate resistance level for the cross. Extended gains could see a rally to 0.8620, the upper boundary of the Bollinger Band. The additional upside filter to watch is 0.8738, the high of April 11.
On the flip side, the initial support level for EUR/GBP is located at 0.8516, the low of June 26. Sustained trading below the mentioned level could see a drop to 0.8455, the 100-day EMA. The next downside target to watch is 0.8415, the lower limit of the Bollinger Band.
EUR/GBP daily chart
Euro FAQs
The Euro is the currency for the 19 European Union countries that belong to the Eurozone. It is the second most heavily traded currency in the world behind the US Dollar. In 2022, it accounted for 31% of all foreign exchange transactions, with an average daily turnover of over $2.2 trillion a day. EUR/USD is the most heavily traded currency pair in the world, accounting for an estimated 30% off all transactions, followed by EUR/JPY (4%), EUR/GBP (3%) and EUR/AUD (2%).
The European Central Bank (ECB) in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy. The ECB's primary mandate is to maintain price stability, which means either controlling inflation or stimulating growth. Its primary tool is the raising or lowering of interest rates. Relatively high interest rates - or the expectation of higher rates - will usually benefit the Euro and vice versa. The ECB Governing Council makes monetary policy decisions at meetings held eight times a year. Decisions are made by heads of the Eurozone national banks and six permanent members, including the President of the ECB, Christine Lagarde.
Eurozone inflation data, measured by the Harmonized Index of Consumer Prices (HICP), is an important econometric for the Euro. If inflation rises more than expected, especially if above the ECB's 2% target, it obliges the ECB to raise interest rates to bring it back under control. Relatively high interest rates compared to its counterparts will usually benefit the Euro, as it makes the region more attractive as a place for global investors to park their money.
Data releases gauge the health of the economy and can impact on the Euro. Indicators such as GDP, Manufacturing and Services PMIs, employment, and consumer sentiment surveys can all influence the direction of the single currency. A strong economy is good for the Euro. Not only does it attract more foreign investment but it may encourage the ECB to put up interest rates, which will directly strengthen the Euro. Otherwise, if economic data is weak, the Euro is likely to fall. Economic data for the four largest economies in the euro area (Germany, France, Italy and Spain) are especially significant, as they account for 75% of the Eurozone's economy.
Another significant data release for the Euro is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period. If a country produces highly sought after exports then its currency will gain in value purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.
Last updated
: 2025.07.02
Related articles
US Dollar holds steady ahead of US NFP
7 minutes agoJPY soft but holding on to recent gains - Scotiabank
33 minutes agoGBP up modestly, recovering a portion of Wednesday losses - Scotiabank
35 minutes agoCAD holds gains through upper 1.35s - Scotiabank
38 minutes agoUSD little changed versus core majors ahead of NFP - Scotiabank
40 minutes agoUSD little changed versus core majors ahead of NFP - Scotiabank
45 minutes ago
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
US Dollar holds steady ahead of US NFP
The US Dollar (USD) is treading water on Thursday, trading flat in a tight range as traders turn their focus to the upcoming Nonfarm Payrolls (NFP) report at 12:30 GMT.
New
2025.07.03 21:05JPY soft but holding on to recent gains - Scotiabank
The Japanese Yen (JPY) is soft, down marginally against the US Dollar (USD) but holding on to recent gains, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.03 20:40GBP up modestly, recovering a portion of Wednesday losses - Scotiabank
Pound Sterling (GBP) is up modestly, entering Thursday's NA session with a 0.2% gain as it recovers a portion of Wednesday's politically-driven losses, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.03 20:37CAD holds gains through upper 1.35s - Scotiabank
The Canadian Dollar (CAD) pushed smartly higher through late morning trade yesterday to retest Friday's high versus the USD near 1.3590.
New
2025.07.03 20:35USD little changed versus core majors ahead of NFP - Scotiabank
Markets are not quite at a standstill but they are not far off. The US Dollar (USD) is mixed against its major currency peers but movement is minimal among the core majors, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.03 20:32USD little changed versus core majors ahead of NFP - Scotiabank
The Euro (EUR) is entering Thursday's NA session unchanged against the US Dollar (USD) as it continues to consolidate just below Monday's fresh multi-year high, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
New
2025.07.03 20:27Gold Price Forecast: XAU/USD trades firmly near weekly high around $3,360 with US NFP in focus
Gold price (XAU/USD) holds onto gains near the weekly high around $3,365 during the European trading session on Thursday. The yellow metal trades firmly ahead of the United States (USD) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.
New
2025.07.03 20:25OIL Price Forecast: WTI approaches the range top at the $67.00 area
WTI Crude Prices jumped on Wednesday following news that Iran suspended its cooperation with the International Atomic Energy Agency (IAEA) and is holding gains on Thursday, despite the unexpected increase in US Oil stocks.Tehran announced on Web¡nesday that President Masoud Pezeshian approved a law
New
2025.07.03 20:20EUR/USD trade may be stretched between 1.2200 and 1.2800 - BBH
EUR/USD is consolidating above 1.1800. ECB publishes the Account of its June 5 policy meeting (12:30pm London), BBH FX analysts report.
New
2025.07.03 20:00USD/CNH: Any decline is likely limited to a test of 7.1500 - UOB Group
US Dollar (USD) is likely to edge lower against Chinese Yuan (CNH), but any decline is likely limited to a test of 7.1500.
New
2025.07.03 19:50Disclaimer:
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.
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
