- The EUR/GBP has been in a tight consolidation range this week as both currencies see declines.
- European Retail Sales disappointed, remain in contraction territory despite a moderate rebound.
- Eurozone GDP coming up on Thursday, markets expecting a flat reading.
The EUR/GBP pair remains in a tight consolidation range on Wednesday, just north of 0.8560 as the Euro (EUR) and the Pound Sterling (GBP) compete for last place, with both currencies losing ground against all the other major currencies except each other, with the two battling into the midrange.
The Euro is the winner in the EUR/GBP competition on the week, but only by a scant margin with the pair up a scant tenth of a percent from the week’s opening bids near 0.8565.
The latest Financial Stability Report from the Bank of England (BoE) shows the UK’s central bank continues to grapple with a lopsided economy, with the BoE noting that downside risks remain despite a well-capitalized banking sector and easing inflationary pressures.
European data continues to disappoint, BoE hampered by wobbly outlook
The Eurozone is seeing weak points of its own, with annualized Retail Sales for the year into October declining a further 1.2% from the previous month’s -2.9%, a limited recovery that still sees Retail Sales shrinking and missing the market’s forecast of -1.1%.
Thursday will bring another round of Eurozone data with the third quarter’s Gross Domestic Product (GDP) figures; the median market forecast is calling for a QoQ flat reading at -0.1%, in-line with the second quarter’s print.
Friday will round out the EUR/GBP’s data showings with UK Consumer Inflation Expectations for the next 12 months; in the second quarter UK consumers last expected inflation to land somewhere around 3.6% in the next year.
Euro price today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Pound Sterling.
| USD | EUR | GBP | CAD | AUD | JPY | NZD | CHF | |
| USD | 0.17% | 0.17% | -0.16% | -0.13% | 0.07% | -0.34% | -0.11% | |
| EUR | -0.16% | 0.00% | -0.32% | -0.30% | -0.10% | -0.49% | -0.27% | |
| GBP | -0.17% | -0.01% | -0.33% | -0.31% | -0.10% | -0.53% | -0.28% | |
| CAD | 0.16% | 0.33% | 0.33% | 0.02% | 0.23% | -0.18% | 0.05% | |
| AUD | 0.14% | 0.30% | 0.31% | -0.03% | 0.20% | -0.19% | 0.04% | |
| JPY | -0.06% | 0.10% | 0.10% | -0.23% | -0.21% | -0.41% | -0.18% | |
| NZD | 0.34% | 0.50% | 0.53% | 0.18% | 0.20% | 0.41% | 0.21% | |
| CHF | 0.11% | 0.27% | 0.28% | -0.05% | -0.03% | 0.17% | -0.23% |
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 Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (quote).
EUR/GBP Technical Outlook
With intraday action getting hung up in the middle, the EUR/GBP is trading directly into the 50-hour Simple Moving Average (SMA), with near-term upside potential capped off by a bearish 200-hour SMA descending into 0.8620.
Despite playing into the midrange for the week, the EUR/GBP remains firmly buried in bearish chart territory, having fallen two and a quarter percent from late November’s peak of 0.8765.
The Euro’s decline in recent weeks leaves the EUR/GBP precariously oversold, but lack of an upside recovery, even if it's just for a bounce, has left the pair waffling into the bottom end and challenging bids last seen in September, with a loose technical support zone roughed in from a collection of swing lows just north of the 0.8500 handle.
EUR/GBP Hourly Chart
EUR/GBP Daily Chart
EUR/GBP Technical Levels
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD bounces off lows, retests 1.1370
Following an early drop to the vicinity of 1.1310, EUR/USD now manages to regain pace and retargets the 1.1370-1.1380 band on the back of a tepid knee-jerk in the US Dollar, always amid growing optimism over a potential de-escalation in the US-China trade war.
GBP/USD trades slightly on the defensive in the low-1.3300s
GBP/USD remains under a mild selling pressure just above 1.3300 on Friday, despite firmer-than-expected UK Retail Sales. The pair is weighed down by a renewed buying interest in the Greenback, bolstered by fresh headlines suggesting a softening in the rhetoric surrounding the US-China trade conflict.
Gold remains offered below $3,300
Gold reversed Thursday’s rebound and slipped toward the $3,260 area per troy ounce at the end of the week in response to further improvement in the market sentiment, which was in turn underpinned by hopes of positive developments around the US-China trade crisis.
Ethereum: Accumulation addresses grab 1.11 million ETH as bullish momentum rises
Ethereum saw a 1% decline on Friday as sellers dominated exchange activity in the past 24 hours. Despite the recent selling, increased inflows into accumulation addresses and declining net taker volume show a gradual return of bullish momentum.
Week ahead: US GDP, inflation and jobs in focus amid tariff mess – BoJ meets
Barrage of US data to shed light on US economy as tariff war heats up. GDP, PCE inflation and nonfarm payrolls reports to headline the week. Bank of Japan to hold rates but may downgrade growth outlook. Eurozone and Australian CPI also on the agenda, Canadians go to the polls.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.