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fxJul 2, 2026, 9:05 AM

GBP Strengthens Against EUR After Head and Shoulders Breakout – SocGen

Societe Generale strategists note that EUR/GBP completed a head and shoulders pattern, breaking below its neckline at 0.8610, which now acts as resistance, signaling further sterling gains.

EURGBP

Societe Generale strategists highlight that EUR/GBP has completed a Head and Shoulders pattern and broken below its neckline around 0.8610. This level is now seen as initial resistance for the pair.

The breakdown suggests further downside for the euro against the pound, confirming a bearish technical outlook. The pattern indicates a potential continuation of sterling's recent strength in the currency market.

Source: FXStreet Forex News