EUR/GBP Hits Eight-Month Low Near 0.8610 on Bearish Outlook Post-ECB/BoE Rate Holds

EUR/GBP languishes near eight-month lows around 0.8610 with a bleak euro outlook driven by growth fears and bearish technicals. The pair softened to 0.8650 after Germany's weaker-than-expected retail sales (-1.2% m/m vs -0.5% forecast), ahead of central bank decisions. ECB held rates steady at 4.50% main refinancing (deposit 4.00%, marginal 4.75%) in a data-dependent tone, while BoE kept Bank Rate at 5.25% (7-2 MPC vote), leading to initial flat trading above 0.8600 before renewed downside pressure (RSI 40, MACD negative). Range-bound at 0.8550–0.8700; key support 0.8600.