EUR/GBP Capped by 0.8600 Resistance Amid Neutral Outlook

The EUR/GBP currency pair has seen limited follow-through after rebounding from below 0.8500 in mid-July, with gains capped by the 0.8600-0.8610 region.

This former multi-month support zone now acts as resistance and closely aligns with the 100-day simple moving average (SMA) at 0.8598.

The near-term outlook remains neutral as the pair holds above the 50-day SMA, while momentum indicators point to a limited bullish bias.

The UK economy expanded 0.4% MoM in July, beating expectations for no growth and following a 0.3% increase in June.