Crypto & Forex July 13, 2026 0 Comments

EUR/GBP Clings to 0.8500 – But What’s Holding Back the Rally Could Surprise You

Ever wonder why the Euro and the British Pound seem stuck in a tug-of-war, neither making a decisive move? After watching the Euro slip nearly 2% over the past three weeks, it now teeters almost flat against the Pound, caught in a delicate balance where sellers just can’t quite push it below 0.8500. It’s like watching a seasoned chess match where both players hesitate, waiting for the other to blink first. Meanwhile, the Euro is juggling the fallout from heightened tensions in the Middle East and a closed Strait of Hormuz—pressing oil prices that only add fuel to the ECB’s rate-hike conundrum amidst a sluggish economy. Over in the UK camp, the British Pound is flexing its resilience, buoyed by political shifts and cautious optimism around Andrew Burnham’s rise. So, is this calm before a storm or the eye of a brewing reversal? Let’s unwrap the layers of this currency puzzle—and maybe, just maybe, spot where the bears are catching their breath. LEARN MORE

The Euro (EUR) is trading practically flat against the British Pound (GBP) on Monday after dropping about 2% over the past three weeks. Euro bulls remain subdued amid the risk-averse mood, but sellers are struggling to find acceptance below 0.8500.

Escalating tensions in the Middle East and the closure of the Strait of Hormuz are weighing heavily on the Euro, as higher Oil prices are pressuring the European Central Bank (ECB) to hike rates further in the context of sluggish economic growth.

The British Pound, by contrast, is showing resilience amid the US-Iran conflict and the political impasse in the UK. Investors have granted the benefit of the doubt to Andrew Burnham, who is expected to be nominated leader of the Labour Party on Friday and Prime Minister on July 20.

Technical Analysis: Bears are showing signs of exhaustion

EUR/GBP trades at 0.8520, trading within a descending wedge, yet with momentum indicators hinting at a fading bearish impulse and the four-hour Relative Strength Index (14) showing a bullish divergence as it trends toward the 50 midline. Beyond that, the Moving Average Convergence Divergence (MACD) line, in the same timeframe, hovers slightly above zero, adding to the case for a potential bullish correction.

On the downside, immediate support is located at Friday’s low in the 0.8510 area, ahead of the wedge bottom, now around 0.8500. Below these levels, there is no clear support area ahead of the early June 2025 lows, in the area of 0.8420.

On the topside, initial resistance is aligned with the descending trendline barrier, now around 0.8530, followed closely by a previous support-turned-resistance in the 0.8535 area. A confirmation above these levels would ease bearish pressure and shift the focus to the July 2, 3, and 6 highs, around 0.8570.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.08%	0.12%	0.34%	0.05%	0.32%	-0.04%	0.03%
EUR	-0.08%		0.05%	0.24%	-0.03%	0.25%	-0.09%	-0.04%
GBP	-0.12%	-0.05%		0.22%	-0.08%	0.22%	-0.12%	-0.04%
JPY	-0.34%	-0.24%	-0.22%		-0.29%	-0.01%	-0.34%	-0.25%
CAD	-0.05%	0.03%	0.08%	0.29%		0.29%	-0.02%	0.04%
AUD	-0.32%	-0.25%	-0.22%	0.01%	-0.29%		-0.30%	-0.25%
NZD	0.04%	0.09%	0.12%	0.34%	0.02%	0.30%		0.08%
CHF	-0.03%	0.04%	0.04%	0.25%	-0.04%	0.25%	-0.08%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).