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EUR/GBP holds near 0.8575 as rebound loses momentum

A move above the 0.8584 50-day SMA could open the door to 0.8630 and then 0.8675, while a break under 0.8550 risks a retest near 0.8500.

Reported · Written up by our desk · Major Pairs

FXStreet said EUR/GBP is edging higher on Friday, but trading has stayed confined to a narrow range over the past ten sessions. The pair is around 0.8575 after rebounding from below 0.8500 in mid-July, with the recovery appearing to lose steam beneath a cluster of moving averages.

From a technical standpoint, the 50-day SMA near 0.8584 is described as capping immediate upside. FXStreet noted that a sustained break above that level would put the 100-day SMA at 0.8630 in focus, followed by the 200-day SMA at 0.8675.

Momentum signals are mixed, according to FXStreet, with RSI around 54 and MACD still positive, but a fading green histogram suggesting the recent upswing lacks enough momentum to clear key averages for now. On the downside, support is flagged at 0.8550, and a decisive move below 0.8500 could expose the year-to-date low near 0.8455.

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