Euro Trims Losses vs Pound on ECB Tightening Hopes

The Euro (EUR) is recovering against the British Pound (GBP) on Friday, bouncing from 13-month lows of 0.8455 back toward the 0.8500 level. The move is driven by growing speculation that the European Central Bank (ECB) will implement a rate hike in the coming meetings.

Traders are adjusting positions as hawkish ECB commentary and sticky inflation data keep tightening expectations alive. The Pound, meanwhile, is under pressure from mixed UK economic signals, though the pair remains sensitive to any shifts in monetary policy outlooks.

EURGBP is currently trading near 0.8490, with resistance at 0.8550 and support at the recent low of 0.8455.