EUR/GBP: Trendline Support or Breakdown to New Lows?

EUR/GBP: Trendline Support or Breakdown to New Lows?

Source: Action Forex - https://www.actionforex.com/contributors/technical-analysis/647150-eur-gbp-trendline-support-or-breakdown-to-new-lows/
Published: Jul 14, 2026 6:50 AM

EUR/GBP has slid to its weakest level in a year, as the two currencies continue to follow increasingly divergent paths. The ECB's June hike—its first since 2023—was meant to signal renewed hawkishness, but the very next inflation print undercut that narrative: price growth cooled from 3.2% to 2.8%, enough for markets to now assign an 88% probability that policymakers will simply hold steady at their July 23 meeting.