{
  "id": 3710559,
  "title": "British Pound: Remains under pressure below resistance against Euro – Societe Generale",
  "url": "https://urgent.news/2026/08/27/british-pound-remains-under-pressure-below-resistance-against-euro",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-27T09:29:33.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-remains-under-pressure-below-resistance-against-euro-societe-generale-202608270929"
  },
  "original_language": "en",
  "account": "Societe Generale's analysts observe that EUR/GBP has recently rebounded from a low of 0.8450 in July, but the upward momentum has stalled around 0.8585. The currency pair is currently trading in a narrow range, with 0.8530 acting as short-term support and 0.8585/0.8610 as critical resistance levels. Additionally, the 200-day moving average, located near 0.8660/0.8690, serves as a potential ceiling for a further upside move. A break above 0.8585 would indicate a broader recovery towards the 0.8610 level, which corresponds to the May low, or even higher towards the 200-day moving average. Conversely, the lower boundary of the recent range at 0.8530 may provide short-term support for EUR/GBP. The pair opened at 0.8575 following a close above the 50-day moving average of 0.8559, and the July high of 0.8588 remains the next resistance level. The FXStreet Insights Team, comprised of experienced journalists, has compiled this report using insights from expert analysts to provide a comprehensive overview of the current forex market situation. The GBP/USD currency pair is currently consolidating close to the lower end of its weekly range, trading below the 1.3600 mark during European trading hours on Thursday. However, traders are remaining cautious, as they await Federal Reserve Chair Jerome Powell's speech on Friday for more information regarding the US central bank's interest rate outlook before taking any further directional positions. Meanwhile, EUR/USD maintains a similar range around 1.1650 in the European session on Thursday. The pair's strength is supported by hawkish expectations from the European Central Bank, while US Dollar dynamics are being influenced by the ongoing impact of the US PCE data release. The primary focus remains on Middle East developments and the upcoming US Jobless Claims data. Gold prices are experiencing a sluggish trend, hovering near the $4,600 mark throughout the first half of the European session on Thursday, and are close to the weekly low observed the previous day. Nonetheless, the downside appears limited as market participants await Fed Chair Kevin Warsh's speech at the Jackson Hole Symposium on Friday for potential clues about future monetary policy decisions. The Fed Chair's address is anticipated to significantly influence US Dollar price movements, potentially providing vital impetus to the non-yielding nature of gold.",
  "summary": "Societe Generale’s Kenneth Broux and colleagues note that EUR/GBP has rebounded sharply after forming an interim low near 0.8450 in July, but the recovery has stalled around 0.8585.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "FXStreet",
        "title": "Euro holds upper hand against British Pound on diverging ECB-BoE expectations",
        "url": "https://urgent.news/2026/08/26/euro-holds-upper-hand-against-british-pound-on-diverging-ecb-boe",
        "published": "2026-08-26T12:05:58.000Z"
      }
    ]
  },
  "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."
}