EUR/GBP: Neutral Outlook as Consolidation Continues

The EUR/GBP pair remains unchanged, maintaining a neutral intraday bias as it continues to trade within a range. The recent bounce from 0.8453 is viewed as a corrective move. Should the pair advance further, the former support level at 0.8610 now acting as resistance could cap upside gains. Conversely, a breach of the 0.8530 support level would shift sentiment to bearish, targeting a retest of 0.8453. Nonetheless, a decisive break above 0.8610 could trigger a stronger rally toward the falling channel’s resistance at 0.8640.

Looking at the broader trend, the rise from the 2024 low of 0.8221 appears to have topped out near 0.8863, just above the 38.2% Fibonacci retracement of the 2025 high at 0.9267, which aligns with the 0.8867 level. Should the pair decline further, a return to the 0.8221 low is plausible. Currently, the outlook stays neutral as long as the 0.8610 level, now acting as resistance, holds firm.

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