EUR/GBP forecast for today by Traders Union analysts
Euro/British Pound is considered one of the keys crosses in the Forex market. It shows the price of one euro in British pounds. Euro is the base currency in the pair and the British pound is the quoted currency. EUR/GBP is considered one of the ‘calmest’ and most predictable currency pairs, which makes it suitable even for beginners.
There are, however, certain specifics. If you take a closer look at the EUR/GBP price, you will see that the peak of activity for this pair falls during the European trading session. As a rule, the daily price movement of the currency pair does not exceed a couple of points, although there are cases when the pair goes beyond the ‘corridor’ of 10-15 points or more. That’s why it is important to monitor the EUR/GBP forecast by Traders Union analysts.
EUR/GBP remains under selling pressure
26.04.2024
The euro remains under selling pressure in the pair with the British pound, which caused it to decline to the 0.8565 support. Pullbacks at this stage are limited by 0.8580 resistance, below which the risks of a decline toward 0.8550-0.8530 remain. Nevertheless, a rebound toward 0.8590-0.8600 is still possible from the current levels.
EUR/GBP remains under pressure
25.04.2024
The reassessment of expectations of a Bank of England interest rate cut continues to put pressure on the euro against the British pound. Thus, bears have tested 0.8577 support at the moment, and the next one they may test is 0.8560-0.8550 support. Breaking 0.8600 resistance will lead to a growth toward 0.8620.
EUR/GBP falls after rise
24.04.2024
As we predicted, the current rise of the euro against the British pound is not sustainable and managed to attract selling interest after a second attempt to break the resistance near 0.8645. As a result of the resumed decline, bears have currently tested 0.8590 support. Bulls may try to regain control here. The loss of support will lead to a decline toward 0.8570-0.8550.
EUR/GBP moves higher
23.04.2024
After breaking the 0.8600 resistance, the euro maintains a positive tone against the British pound and, continuing yesterday's rise, tested the 0.8643 level. On pullbacks to 0.8625 support it is bought and bulls may test the current resistance again. The loss of support will lead to a decline toward 0.8600. Below 0.8660-0.8700, risks of resuming the decline will persist.
EUR/GBP is progressing upwards
22.04.2024
Despite the high likelihood of the ECB reducing interest rates in the near term, the euro was bought against the British pound, culminating in the breakout of 0.8570 and 0.8585 resistances and the testing of the level at 0.8613. The euro is being bought on pullbacks, but at 0.8620, they may encounter renewed selling pressure. Breaking this level will lead to a growth toward 0.8630-0.8640.
EUR/GBP unable to break 0.8570
19.04.2024
As expected, considering the prolonged consolidation range, the euro's attempt against the British pound is limited by resistance at 0.8570. The nearest support is noted at the 0.8550 level. Breaking it will lead to a decline toward support at 0.8530-0.8520, where buying opportunities may arise.
Euro/British pound bought on decline
18.04.2024
The Bank of England's forecast, suggesting a decrease in UK inflation next month, pressured the British pound, causing the euro to rise to resistance at 0.8570 after testing support at 0.8525. The rise toward 0.8580 could be used for selling. Breaking this resistance will lead to a growth toward the 86th figure.
Euro/British pound is still within a narrow range
17.04.2024
The situation in the EUR/GBP pair has remained unchanged since February, with the price fluctuating within a rather narrow range. The expectation of the ECB reducing interest rates in June negatively impacts the euro dynamics, which implies a dip to the 85th figure; if the resistance level at 0.8550 is passed, the pair could grow to 0.8570.
Euro/pound continues to be under pressure
16.04.2024
Although without enthusiasm, the bears are selling the euro against the British pound little by little and are testing the support around the 0.8530 level again. Thus, they may still aim to test the 85th figure; breaking the 0.8540 resistance will lead to a rise to 0.8550-0.8560. The pair will continue to trade in a narrow range in the short term.
Euro/pound remains under pressure
15.04.2024
After the ECB's "soft" comments on Friday, the euro in the pair with the British pound continued to decline on Friday and tested support near 0.8530, after which it rolled back to resistance at 0.8550. Risks of support breakdown and decline towards the 85th figure remain; passing resistance will lead to an upside towards 0.8570-0.8580.
Euro/pound declines on ECB decision
12.04.2024
The ECB, as predicted, left the interest rate level unchanged but signaled a possible reduction at the June meeting, which put pressure on the euro in pairing with the British pound and led to a decline to 0.8535 at the moment. The bears' closest target could be the 85 figure; passing 0.8560 would lead to an upside towards 0.8580. The recession in the UK may hold back the pair's downside potential.
Euro/pound awaiting ECB decision
11.04.2024
As was expected, after the decline of the euro against the British pound to the support at 0.8545, it grew to the resistance at 0.8570, where it again came under pressure. Further dynamics of the pair may depend on the comments of the ECB President Christine Lagarde, where the hint of a soon lower interest rate may put pressure, and the intention to keep the current rate level for a longer period - support.
Euro/pound under moderate selling pressure
10.04.2024
After coming under moderate selling pressure, the euro returned to support at 0.8565 paired with the British pound. On Thursday, the ECB will announce a decision on the interest rate level, and before this event, the pair's consolidation in the current narrow range may continue. From the current levels, either a decline to 0.8550-0.8540 or a rebound to the resistance at 0.8585 is possible.
Euro/pound is still in the "sideways" mode
09.04.2024
The next trading session was held without changing the euro/pound cross rate. Perhaps speculators are waiting for the results of the ECB meeting and President Christine Lagarde's press conference, which may become a driver for trend development, while the "sideways" will continue.
Euro/pound remains in a narrow range
08.04.2024
The Euro's dynamics in the pairing with the British Pound still leave much to be desired, as the pair's fluctuations are still confined to a narrow range between resistance at 0.8585 and support at 0.8560. On Thursday, the ECB will announce its decision on the interest rate level; perhaps this event can move the pair in some direction.
Euro/pound remains in a narrow range
05.04.2024
There is still nothing much to add to the Euro/Pound pair as it trades in a narrow range. Yesterday, its fluctuations were limited to the resistance at 0.8580 and support at 0.8565, and at the moment, it is trading between these levels. What will be able to move the pair in different places is still unclear, and in the short term, the consolidation may continue.
Euro/pound trades unchanged
04.04.2024
The euro is still trading unchanged in the pair with the British pound. After testing the resistance at 0.8580, it rolled back to the support at 0.8565, where it is "hanging" at the moment. Volatility in the pair remains low, and it is unlikely to expect any shifts in one direction or another in the short term, so consolidation in a narrow range may continue.
Euro/pound remains in a consolidation phase
03.04.2024
The euro bulls yesterday bought it for the British pound from support near 0.8540 and tested resistance near 0.8575. Overall, the pair is still in a consolidation phase, so from current levels, it is possible that the euro will decline to support at 0.8540/30; breaking the current resistance will lead to growth towards 0.8590-0.8600.
Euro/pound demonstrates a positive mood
02.04.2024
After declining against the British pound to support around 0.8540, the euro is trying to develop upward dynamics, but at the moment, it is facing the bears' oafs around the level of 0.8560. Its upside attempts can be used to sell and test 0.8540-0.8530 support; passing the current resistance will allow the bulls to test 0.8580.
Euro/pound moves lower
01.04.2024
Continuing its decline against the British pound, the euro tested support near 0.8530. Pullbacks at this stage are limited to the resistance at 0.8555, selling from which could lead to a break of support and a decline to the 85th figure. Recent comments from the Bank of England officials, which turned out to be relatively hawkish, managed to support the pound, and expectations of the ECB interest rate cut in June are putting pressure on the euro, so its upside pullbacks can be used for selling.
Euro/pound continues to decline
29.03.2024
The Euro failed to benefit from the "soft" comments of the Bank of England and, remaining under selling pressure in the pair with the British pound declined to the support at 0.8530. Nevertheless, on a decline towards 0.8500, it could be bought back, with a large-scale rally unlikely on expectations of an ECB interest rate cut in June.
Euro/pound is still trading unchanged
28.03.2024
Participants in the currency market again lost interest in the euro in the pair with the British pound, which, being under sluggish pressure, declined to support at 0.8565. In the short term, consolidation in the current range may continue, but large-scale movements are unlikely.
Euro/pound consolidates in a narrow range again
27.03.2024
The euro, paired with the British pound, is once again stuck in a narrow range. At this stage, it is trading in a range between support around 0.8570 and resistance at 0.8585, with upside potential remaining, and bulls could test the 86 figure; loss of support would lead to a decline towards 0.8560-0.8550.
Euro/pound under moderate pressure
26.03.2024
The euro remains under pressure in the pairing with the British pound, but its decline is limited by the support at 0.8565. The likelihood of an earlier interest rate cut by the Bank of England may help to keep pressure on the pound and test euro resistance around the 86th figure; a loss of support would lead to a decline towards 0.8550-0.8540.
Euro/pound failed to break through 0.8600
25.03.2024
The assumption of the Bank of England to lower the interest rate level in the foreseeable future put pressure on the British pound, but the growth of the euro in the pair with it was limited by the resistance near 0.8600, and after testing it, it rolled back to the support at 0.8575. From this, attempts to break the resistance are still possible, and loss of support will lead to a decline from 0.8540-0.8530. Euro pullbacks can still be used for its purchases.
Euro/pound rises after the Bank of England's interest rate decision
22.03.2024
The Bank of England did not make changes in the monetary policy, leaving the interest rate at the same level, which was fully in line with analysts' forecasts, but by softening the tone, the central bank provoked sales of the British pound, against which the euro rose to the level of 0.8580 in the pair. On increased expectations of the Bank of England's imminent interest rate cut, the euro's growth may continue, and the bulls will test the 86th figure; the loss of 0.8565 support will lead to a decline to 0.8550-0.8535.
Euro/pound awaiting the decision of the Bank of England
21.03.2024
The activity of the currency market participants towards the euro/pound cross rate remains almost zero. Today, the Bank of England will announce its decision on the interest rate level, which is expected to remain unchanged, but any hint of its imminent lowering may become a reason for growth in the direction of 0.8580-0.8600; the intention to keep the rate at the current level for a longer time may lead to a breakdown of the support at 0.8530 and a decline to the 85th figure.
Euro/Pound under pressure
20.03.2024
The Euro remains under pressure from the British Pound, while currency market participants' activity is still low. The decline in the Euro is currently limited by support near the level of 0.8530. Until the Bank of England's decision, significant changes in the pair are unlikely, and moderate pressure on the Euro may continue.
Euro/pound retreated again from resistance at 0.8560
19.03.2024
After testing the resistance at 0.8560 in the pair with the British pound, the euro declined to the support at 0.8540. Thus, the pair continues to trade without any changes, which are possible only after the announcement of the Bank of England's decision on the interest rate level on Thursday, while the pair will continue to consolidate in the range.
Euro/pound trades unchanged
18.03.2024
The euro's consolidation in the pair with the British pound continues in a narrow range. This week, inflation data for the UK will be published, and the Bank of England meeting will be held, both of which may cause enough volatility for the pair to break out of the range. In the meantime, consolidation is likely to continue.
EUR GBP Chart
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What is the purpose of the EUR/GBP forecast?
Trading EUR/GBP can bring a good income. Over the past several years, this currency pair is moving toward parity. The price is influenced by the difference in the discount rates between the UK and the eurozone, the political situation, and also the general market trend. Despite the fact that there is no US dollar in the pair, the U.S. currency plays a big role in the benefits of exchanging GBP to EUR. TU experts use various instruments of technical analysis (patterns, indicators, support and resistance levels, etc.) for making the forecast.
FAQ
1
What is the EUR/ GBP pair?
EUR/GBP is a popular financial instrument among Forex traders. The pair features highly liquid currencies: euro (base) and British pound (quoted). The pair is suitable for Forex traders focused on short trades to earn profit in the short term.
2
When is the peak of trading activity for EUR/GBP?
The peak of trading activity falls on the working hours of the eurozone countries. This needs to be taken into consideration when working with this currency pair.
3
What factors need to be taken into account when trading EUR/GBP?
When trading EUR/ GBP, you need to take into account important political and economic events both in the European Union and in the UK. Also statements of officials could impact the volatility of the financial instrument.
4
Why do I need the EUR/GBP forecast for today?
Traders Union experts use methods of technical analysis to make the EUR/GBP forecast. You can use the information offered by the experts to determine the position entry and exit points.