EUR/GBP slips as ECB and BoE hold rates, but hawks stay alert now
In the daily chart, EUR/GBP trades at 0.8637, extending a bearish bias as spot remains capped beneath the cluster of simple moving averages around 0.8686 and below the descending trend-line break level at 0.8704. The latest 14-day Relative Strength Index at 34.7 hovers just above oversold territory, hinting that while bearish momentum persists, downside pressure may be losing some intensity. On the topside, initial resistance is located at the triple simple moving average area near 0.8686, with a further barrier at the former trend-line break level around 0.8704, which should act as a notable cap while the pair trades below it. A daily close above these successive hurdles would be needed to ease the current downward pressure and open the way for a more sustained recovery phase.