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 is under pressure
16.05.2024
Against the British pound, the euro was under pressure yesterday, leading it to decline to 0.8575 support. The pressure remains, with the potential for a decline toward 0.8560-0.8540. Surpassing 0.8610 will lead to a growth toward 0.8630. Currently, there are no grounds for leaving the consolidation range.
EUR/GBP is being sold on the rise
15.05.2024
Yesterday's buying of the euro against the British pound from the 0.8590 support allowed bulls to retest the 0.8610 resistance, but once again, the euro faced selling pressure at this level, and bears are attempting to break the support again. If successful, they will be able to test 0.8570-0.8560. Breaking resistance will lead to a growth toward 0.8630.
EUR/GBP is declining
14.05.2024
The euro yesterday came under selling pressure against the British pound yesterday, leading to a decline to 0.8580. Risks of further decline toward 0.8560-0.8550 still prevail. Breaking 0.8610 resistance will lead to a growth toward 0.8620-0.8630. Consolidation will continue in the short term.
EUR/GBP remains in a narrow range
13.05.2024
Consolidation of the euro against the British pound in a narrow range continues. Fluctuations in the pair's exchange rate on Friday were confined by 0.8610 resistance and 0.8595 support. Lack of progress by bulls may prompt bears to resume selling and test 0.8570-0.8560. Breaking resistance will lead to a growth toward 0.8630-0.8650.
EUR/GBP is trading unchanged after Bank of England decision
10.05.2024
Market participants weren't surprised by the Bank of England's choice to maintain the interest rate, so it didn't prompt either buying or selling of the euro against the British pound. Thus, the pair continues to trade unchanged within the 0.8615 resistance and 0.8590 support, and significant changes in its dynamics are unlikely to be expected in the short term.
EUR/GBP is under pressure after rise
09.05.2024
Yesterday, the euro rose against the British pound before the Bank of England decided on the interest rate. It reached 0.8616 but faced resistance, causing it to drop back to 0.8597 support. The Bank of England is expected to leave the interest rate level unchanged, but the intention to maintain it at the current level for a prolonged period may contribute to a decline toward 0.8580-0.8560. Hints of a rate cut may provoke a growth toward 0.8620-0.8640.
EUR/GBP moves higher
08.05.2024
The euro saw moderate demand against the British pound yesterday, breaking 0.8585 resistance and testing the 0.8597 level. Before the Bank of England's decision, the pair will remain unchanged in trading, with the potential for moderate bearish activity at current levels. Breaking the current resistance will lead to a growth toward 0.8610-0.8630.
EUR/GBP trades unchanged
07.05.2024
The euro's value against the British pound hasn't changed. Its efforts to go up are stopped by 0.8580/85 resistance, and there's still demand at the 0.8550 level. In the short term, consolidation in the current range may continue. Breaking resistance will allow testing the 86th figure. Breaking support will lead to a decline toward 0.8530-0.8510.
EUR/GBP remains under pressure
03.05.2024
After rising above the 0.8560 level, the euro again faced pressure from the British pound, but its decline is currently limited by local 0.8545 support. The risks of decline toward 0.8520-0.8500 still prevail. Breaking 0.8560 resistance will lead to a growth toward 0.8580-0.8590.
EUR/GBP in a narrow range
02.05.2024
As predicted, the euro is staying the same in the pair with the British pound. Yesterday, the pair's fluctuations were limited by 0.8535 support and 0.8555 resistance. In the short term, the pair will continue to consolidate between 0.8530 and 0.8580. Breakout of this range will indicate further direction of the movement.
EUR/GBP is sold on the pullback
01.05.2024
On the pullback to resistance, the euro was sold in the pair with the British pound, returning it to 0.8530 support. Strong data from Germany and the euro area failed to provide sufficient support for the euro, indicating risks of its decline toward the 85th figure, but there may be bullish activity on the way to it.
EUR/GBP tested 0.8535
30.04.2024
The likelihood of the ECB reducing the interest rate before the Bank of England does is significant, leading to a continued decline in the euro against the British pound, resulting in a test of 0.8535 support level. The next support to be tested could be at 0.8520. Breaking 0.8550 will lead to a growth toward 0.8650-0.8570.
EUR/GBP continues to decline
29.04.2024
Pressure on the euro against the British pound persisted on Friday, with bears testing 0.8560 support, where the weekly closure occurred. They may test 0.8540-0.8520 support next. Breakout of 0.8570 resistance will lead to a growth toward 0.8590-0.8600.
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.
EUR GBP Chart
{{filterName}}
{{typeName}}
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.