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The EUR/GBP cross continued to move within a tight horizontal range over the past week, leaving the broader technical outlook unchanged. The initial bias for the pair remains neutral in the short term, as the recent recovery from the 0.8453 low continues to be categorized as a temporary corrective bounce rather than a sustainable bullish trend reversal. On the upside, any further attempts to push prices higher are expected to face strong technical resistance around the 0.8610 zone, which previously served as a key support area. Market participants anticipate that this supply zone will limit potential bullish gains and keep the pair contained within its broader consolidation phase. Conversely, a decisive breakdown below the immediate support level of 0.8530 would shift the short-term bias back to the downside, opening the door for a retest of lower demand zones. Market participants should keep a close eye on economic data releases from both the Eurozone and the UK to gauge future directional breakouts.
