EUR/GBP Daily Market Analysis

EUR/GBP is currently consolidating in a range, with a neutral intraday bias. The 0.8610 level is expected to act as strong resistance, completing a corrective bounce from the 0.8453 low. If the 0.8545 support were broken, the bias would shift negative, targeting a retest of the 0.8453 low. A sustained breach of 0.8610 would weaken the bearish outlook and potentially trigger a stronger rally toward the falling‑channel resistance now at 0.8635.

In the broader context, the upward move from the 2024 low of 0.8221 appears to have finished near 0.8863, aligning with the 38.2% retracement of the 2025 high at 0.9267, suggesting a potential reversal back to 0.8221. A deeper decline would target the 0.8221 level. For now, the outlook remains neutral as long as the 0.8610 resistance holds. Conversely, a sustained break above 0.8610 would indicate that the decline from 0.8863 may represent a corrective phase rather than a reversal.

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