{
  "id": 11149762,
  "title": "EUR/GBP Price Forecast: Bounces up from 0.8530 with the bearish trend intact",
  "url": "https://urgent.news/2026/10/01/eur-gbp-price-forecast-bounces-up-from-0-8530-with-the-bearish-trend",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-01T08:28:44.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/eur-gbp-price-forecast-bounces-up-from-08530-with-the-bearish-trend-intact-202610010828"
  },
  "original_language": "en",
  "account": "The Euro (EUR) has experienced a slight gain against the British Pound (GBP) on Thursday, despite the overall downward trend continuing. After falling around 0.8% over the past three days, the EUR/GBP pair has returned to 0.8545 following a test of the support level at 0.8530. However, this rebound appears to be corrective, as there is a lack of strong upward momentum so far. The situation in the Eurozone is challenging this week due to rising oil prices and escalating French borrowing costs, with government debt hitting its highest level since 1946, sparking concerns about a possible credit crisis. Furthermore, remarks from European Central Bank President Christine Lagarde suggesting that the bank views a measured response as necessary to keep inflation under control have put additional pressure on the Euro. Meanwhile, the Bank of England (BoE) is positioning itself for some form of monetary tightening. Rabobank analysts caution that while higher short-term interest rates can be beneficial for a currency, there is limited scope for significant gains for the pound due to the high degree of policy tightening already anticipated over the next year. Another key focus for UK markets will be the October 28 budget. If the current Labour Party leadership team adheres to the former Chancellor's fiscal rules, there may be an opportunity for a post-budget relief rally in the pound, although this could indicate more tax increases, which could be detrimental to growth. The EUR/GBP pair is currently at 0.8543, consolidating losses after a sharp reversal earlier in the week. Momentum indicators on the 4-hour chart remain strongly bearish, with the Relative Strength Index (RSI) just above the 30 level, marking the lower limit of oversold territory, while the Moving Average Convergence Divergence (MACD) remains slightly negative, indicating that the bears are in control. Upside attempts may be tested at a previous support level around 0.8550 (August 28, September 14 lows), which could now become resistance, and the broken trendline around 0.8565. For the EUR/USD pair to see a shift in bearish pressure and bring the September 29 highs around 0.8585 back into play, confirmation above these two levels is necessary. On the downside, the 0.8530 support level (July 24 and August 12 lows) could act as a target ahead of the July 17 high in the 0.8515 area and the July 10 and 21 lows in the 0.8480-0.8490 area.",
  "summary": "The Euro (EUR) ticks up against the British Pound (GBP) on Thursday, yet with the immediate bearish trend intact, after having depreciated about 0.8% over the previous three days.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Silver Price Forecast: XAG/USD holds above $61.00 amid easing Fed rate hike expectations",
        "url": "https://urgent.news/2026/10/01/silver-price-forecast-xag-usd-holds-above-61-00-amid-easing-fed-rate",
        "published": "2026-10-01T03:19:59.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}