Key Moments
- EUR/GBP trades near 0.8610, moving closer to 11-month and year-to-date lows around the 0.8600 area.
- German Retail Sales rose 1.1% in May, beating expectations and reversing April’s 0.4% decline, but failed to lift the Euro.
- Technical indicators show a bearish short-term bias, with critical support clustered between 0.8604 and 0.8597.
Euro Weakens Against Pound Despite Supportive Data
The Euro (EUR) is losing ground against the British Pound (GBP) for a second straight session on Tuesday, with EUR/GBP moving toward the 0.8600 region, close to 11-month lows. Gains in Eurozone macroeconomic data have not translated into strength for the shared currency, while the latest adjustment to UK growth figures has not visibly weighed on the Pound.
During the session, EUR/GBP is quoted around 0.8610, with price action edging lower and testing levels just above important support. The move comes even as fresh data from Germany and the United Kingdom delivered mixed signals for the cross.
Macro Data: German Retail Sales Outperform, UK GDP Revised
Figures released earlier in the day showed that German Retail Sales increased 1.1% in May. This followed a downwardly revised 0.4% decline in April and exceeded expectations for a 0.1% contraction. Over the twelve months to May, retail consumption rose 1.8%, compared with a 0.6% drop in April, according to Destatis.
In the United Kingdom, the final estimate of first-quarter Gross Domestic Product confirmed that the economy expanded 0.6% in the first three months of the year, unchanged from earlier readings. However, year-on-year growth was revised to 0.9%, down from the previously reported 1.1% increase. Despite this downward revision, there was no evident negative reaction in the Pound against the Euro.
Technical Picture: Key Support Cluster Near 0.8600
From a technical standpoint, EUR/GBP is consolidating in a narrow band just above nearby support. The four-hour Relative Strength Index (14) stands at 35.57, pointing to mildly soft momentum and maintaining a short-term bearish tone. The Moving Average Convergence Divergence (MACD) is fluctuating around the zero line, indicating a lack of clear directional conviction rather than a firmly trending market.
Within this framework, sellers may require an additional catalyst to push the cross decisively below the current support area. The key zone is defined by the year-to-date low at 0.8604 and the mid-August 2025 low at 0.8597. A clear break beneath this band would open the way toward the next downside reference at the June 23, 2025 high near 0.8575.
On the upside, immediate resistance is located at Monday’s high of 0.8632. Above that, attention shifts to 0.8657, which previously acted as support and now represents resistance, corresponding to the June 19 high. A further advance would bring the June 22 high around 0.8690 into view.
(The technical analysis of this story was written with the help of an AI tool.)
Euro Performance Against Major Currencies
The table below details the intraday percentage changes of the Euro relative to major currencies. Over the period observed, the Euro showed its strongest performance against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | – | 0.21% | 0.17% | 0.24% | 0.17% | 0.00% | -0.16% | 0.19% |
| EUR | -0.21% | – | -0.03% | 0.00% | -0.09% | -0.21% | -0.40% | -0.03% |
| GBP | -0.17% | 0.03% | – | 0.04% | -0.05% | -0.17% | -0.36% | -0.00% |
| JPY | -0.24% | 0.00% | -0.04% | – | -0.08% | -0.25% | -0.40% | -0.06% |
| CAD | -0.17% | 0.09% | 0.05% | 0.08% | – | -0.18% | -0.33% | 0.02% |
| AUD | -0.00% | 0.21% | 0.17% | 0.25% | 0.18% | – | -0.15% | 0.20% |
| NZD | 0.16% | 0.40% | 0.36% | 0.40% | 0.33% | 0.15% | – | 0.34% |
| CHF | -0.19% | 0.03% | 0.00% | 0.06% | -0.02% | -0.20% | -0.34% | – |
The heat map should be read using the base currency from the left-hand column and the quote currency from the top row. For instance, selecting the Euro from the left column and moving horizontally to the US Dollar cell shows the percentage move for EUR (base)/USD (quote).
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