FPG EURGBP Market Report July 29, 2026

On the H4 timeframe, EURGBP remains in a bullish recovery phase following a prolonged bearish trend. As shown on the chart, the pair traded around 0.8574 at the beginning of the month before declining steadily to a low of approximately 0.8454. From that level, the pair staged a strong rebound, reversing into a bullish trend that has continued until recently. EURGBP is currently trading around 0.8568, remaining within a well-defined ascending channel with moderate volatility. Recent price action shows buyers continuing to defend higher lows, allowing the pair to approach its recent highs while maintaining the prevailing bullish structure.

From a technical perspective, EURGBP continues to display a constructive bullish outlook despite approaching a key resistance area. Bollinger Bands remain moderately expanded, indicating stable volatility as price advances within the ascending channel. The latest Parabolic SAR dots remain below the candles, confirming that the prevailing short-term trend continues to favor buyers. Meanwhile, the Stochastic oscillator has climbed into overbought territory with readings around 89.98 and 77.81, suggesting strong bullish momentum while also indicating that upside momentum may moderate in the near term. The RSI (14) is currently around 69.47, reflecting robust buying pressure and positioning just below the traditional overbought threshold, consistent with the pair’s ongoing recovery.

The Eurozone and the UK continue to navigate economic uncertainty as policymakers balance slowing growth with persistent inflation risks through cautious fiscal and monetary policies. The European Central Bank remains committed to a data-dependent approach, while the Bank of England is expected to keep interest rates steady amid ongoing economic challenges. Investors continue to monitor key economic data and central bank guidance for clues on the future policy outlook. These developments have supported EURGBP’s recovery after weakening earlier this month, with the pair maintaining its bullish momentum over the past two weeks.

Technical Market Overview
1. Current Position: EURGBP is currently trading around 0.8568, continuing its bullish recovery within a well-defined ascending channel after rebounding from the 0.8454 low. The broader bullish structure remains intact as price continues to establish higher highs and higher lows.
2. Resistance Zone: The nearest resistance is located at 0.8574, marking the recent swing high. A confirmed breakout above this level could reinforce the prevailing bullish trend.
3. Support Zone: Immediate support is identified around 0.8454, the major swing low that initiated the current recovery. As long as price remains above this area, the broader bullish structure is likely to remain intact.
4. Indicator Observation: Bollinger Bands remain moderately expanded while the latest Parabolic SAR dots stay below the candles, confirming that the prevailing trend remains bullish. The Stochastic oscillator has advanced to approximately 89.98 and 77.81, indicating strong momentum in overbought territory, while the RSI (14) stands around 69.47, reflecting sustained buying pressure.
5. Technical Summary: The overall market structure remains bullish as long as EURGBP continues to trade within its ascending channel and above the 0.8454 support area. A sustained break above 0.8574 would strengthen bullish continuation, while rejection near resistance could trigger a short-term corrective pullback without immediately altering the broader recovery trend.

Market Performance:
Forex           Last Price       % Change
EUR/USD       1.1390              +0.04%
GBP/USD      1.3289             +0.01%

Key Economic Calendar:
US: API Crude Oil Stock Change
CN: Politburo Meeting
AU: Inflation Rate MoM & YoY
AU: RBA Trimmed Mean CPI MoM & YoY
UK: BoE Consumer Credit
UK: Mortgage Approvals & Lending
US: MBA 30-Year Mortgage Rate
US: EIA Crude Oil & Gasoline Stocks Change