EUR/GBP Price Forecast: Languishes below 0.8550 with bullish attempts subdued

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The Euro (EUR) keeps treading water right above one-year lows against the British Pound (GBP) on Thursday. The EUR/GBP is trading flat in the area of 0.8530 at the time of writing, weighed by rising tensions between the US and Iran and the rebound in oil prices.

EUR/GBP treads water around 0.8530, a few pips above one-year lows, at 0.8519.
German Trade Balance surplus beat expectations in May, yet with no impact on the Euro.
Rising geopolitical tensions and higher Oil prices are keeping Euro bulls subdued.

In the Eurozone, German Trade Balance data beat expectations with a EUR 19.1 billion surplus in May, from the 14.5 billion surplus seen in April, as exports grew against expectations. The data, however, has failed to provide any significant support to the Euro.

Meanwhile, the US has launched a new round of attacks in Iran, which targeted US bases in Gulf countries in retaliation. US President Donald Trump said on Wednesday that the ceasefire was over, and Crude prices have bounced up nearly10% with Brent Oil hitting the $80 level on Wednesday, after bottoming near $70.00 last week.

Technical Analysis: EUR/GBP bears have lost momentum

EUR/GBP shows a bearish near-term tone, although sellers seem to have lost momentum. The Relative Strength Index (14), now near 28, highlights a bullish divergence, while the Moving Average Convergence Divergence (MACD) indicator stabilizes around the zero line, hinting at consolidation rather than a decisive bullish reversal.

Bulls, however, must break above the previous yearly low, at 0.8533 (Jul 7 low), and the top of the descending wedge pattern from mid-June highs, now around 0.8555, to confirm a bullish correction.

On the downside, below the mentioned Wednesday's low at 0.8519, the confluence of the wedge bottom and late June 2025 lows, just above 0.8500, is likely to test bulls. Further down, there is no clear support until the early June 2025 lows, in the area of 0.84100.8863.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Euro Price This week

The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the Japanese Yen.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.03%	-0.46%	0.65%	-0.20%	-0.03%	-0.32%	0.38%
EUR	-0.03%		-0.51%	0.61%	-0.26%	-0.03%	-0.39%	0.30%
GBP	0.46%	0.51%		1.00%	0.26%	0.47%	0.13%	0.82%
JPY	-0.65%	-0.61%	-1.00%		-0.87%	-0.55%	-0.93%	-0.28%
CAD	0.20%	0.26%	-0.26%	0.87%		0.30%	-0.07%	0.56%
AUD	0.03%	0.03%	-0.47%	0.55%	-0.30%		-0.36%	0.33%
NZD	0.32%	0.39%	-0.13%	0.93%	0.07%	0.36%		0.69%
CHF	-0.38%	-0.30%	-0.82%	0.28%	-0.56%	-0.33%	-0.69%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).