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2025-07-30 20:41:13
[EUR/GBP: Is the Decline Still Unfinished? Hawkish Fed Expectations May Add Further Downward Pressure] ⑴ As of July 30th (Beijing time), the EUR/GBP correction continued, currently approaching the key support level of 0.86. ⑵ A close below the 21-day moving average could further dampen market appetite for a rebound, as this moving average has previously been a bullish indicator. ⑶ Given the risk of hawkish signals from the Federal Reserve, there is room for further downside against the EUR/GBP. ⑷ The market should monitor additional support at 0.8750 and 0.8542 (55-day moving average). ⑸ Meanwhile, there are few catalysts from the UK in the near term to effectively halt this decline. ⑹ Although the Bank of England will announce its interest rate decision on August 7th, with the market generally expecting a 25 basis point rate cut, its support for the exchange rate remains to be seen.
