EUR/GBP was flat on Friday after retreating from a 0.8585 high on Thursday, with sellers testing the rising trendline from mid‑July. Sterling recovered some losses after the Bank of England held Bank Rate at 3.75% as expected but recorded three hawkish dissents; Governor Bailey said he would be willing to tighten policy if a Middle East conflict pushed oil above $100, providing near‑term support for the pound. In Europe, Germany’s preliminary HICP rose to 2.8% YoY in July from 2.4% in June; alon

EUR/GBP was flat on Friday after retreating from a 0.8585 high on Thursday, with sellers testing the rising trendline from mid‑July. Sterling recovered some losses after the Bank of England held Bank Rate at 3.75% as expected but recorded three hawkish dissents; Governor Bailey said he would be willing to tighten policy if a Middle East conflict pushed oil above $100, providing near‑term support for the pound. In Europe, Germany’s preliminary HICP rose to 2.8% YoY in July from 2.4% in June; alongside strong preliminary GDP prints for Germany and the euro area, the data bolsters the case for an ECB rate hike in September and limits the euro’s downside.