Thursday, October 15, 2026

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FxWirePro: EUR/GBP rejected at highs, retraces back to 0.8550

EUR/GBP struggles to keep gains above 0.86 handle, retraces back to 0.8550 levels. Expectations of further monetary easing by BoE lifted the pair to its highest level since late August 2013 on Wednesday. The pair finds s…

By FxWire Pro
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FxWirePro: EUR/GBP rejected at highs, retraces back to 0.8550
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  • EUR/GBP struggles to keep gains above 0.86 handle, retraces back to 0.8550 levels.
     
  • Expectations of further monetary easing by BoE lifted the pair to its highest level since late August 2013 on Wednesday. 
     
  • The pair finds strong trendline support at 0.8490, break below could drag the pair to 0.8375 levels.
     
  • On the flipside, strong trendline resistance is seen at 0.86 levels, break above will see next hurdle at 0.8626 (July 6th high).
     
  • BOE monetary policy meeting next week will remain the key fundamental trigger for the pair's next leg higher. Expect consolidation till then. 
     
  • The pair has shown a decisive breakout above major resistance at 0.8330 on the weekly charts.
     
  • Momentum studies are bullish, RSI, Stochs and MACD on the weekly charts support further upside in the pair.
     

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By FxWirePro Team