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2025-10-30 20:04:33
【EUR/GBP Consolidates at 0.88, Overbought but Remains Strong】 ⑴ EUR/GBP hovered around the 0.88 level on Thursday, with the daily RSI deeply in overbought territory. Without new catalysts, chasing higher levels will become increasingly difficult. ⑵ Technical support is locked in the 0.8738-69 area. Institutional strategies are "fade on dips," and buying on pullbacks is expected to pick up quickly. ⑶ Expectations of a Bank of England rate cut in November are looming, and pre-emptive selling of the pound continues to support cross-currency pairs. ⑷ There is significant resistance above. If momentum continues, the short-term target is 0.8850; a break above this level would open up further upside potential.
