EUR/GBP holds a neutral intraday bias as it trades between key chart levels. A rebound from a recent low faces a firm resistance ceiling on the daily chart, while the bigger-picture trend still points toward a deeper pullback if that ceiling holds and a rally toward a falling channel line if it breaks.
EUR/GBP's rebound from 0.8453 could extend further, but a former support level turned resistance near 0.8610 should cap the upside for now. Intraday bias in the pair stays neutral as a result, with neither side of the range under sustained pressure.
On the downside, a break below 0.8530 support would argue that the rebound from 0.8453 has already completed, turning the near-term bias back toward retesting that low. Conversely, a firm break above 0.8610 would trigger a stronger rally toward falling channel resistance, now at 0.8648, the ceiling of the pair's longer-running downtrend.
Zooming out, the rise from the 2024 low of 0.8221 should have completed at 0.8863. That peak sat just ahead of the 38.2% retracement of the move from the 2025 high of 0.9267 down to 0.8221, which sits at 0.8867, a level the pair failed to clear. Therefore, a deeper fall would be seen back toward 0.8221 if the broader structure turns lower again. For now, the outlook stays neutral at best as long as 0.8610 resistance holds.
Source: ActionForex
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