EURGBP continued its downward trajectory, reaching its lowest level since late May 2025 on Wednesday.
The euro came under pressure as French 10‑year bond yields climbed to their highest level in more than four years, widening the French‑German yield spread. Meanwhile, hotter‑than‑expected UK inflation data boosted the pound.
Bearish technical studies reinforce a negative outlook, though the strongly oversold RSI indicates that the bears may pause after establishing support at 0.8373—the 76.4% Fibonacci retracement of the December‑November 2025 rise.
In the near term, the pair rebounded from the fresh low of 0.8371 but remains below the key 0.8400 round‑number resistance. Any further upside is expected to be limited by the declining 10‑day moving average at 0.8436, which coincides with the July 15 low of 0.8454, suggesting a healthy correction before broader bearish momentum resumes.
Res: 0.8400; 0.8436; 0.8454; 0.8465
Sup: 0.8373; 0.8355; 0.8315; 0.8300
