EURGBP ShortEUR/GBPOANDA:EURGBPOnerEURGBP remains under downside pressure, supported not only by technical factors but also by the current macroeconomic backdrop. Rising oil prices are becoming a key driver for the currency market, as they directly impact inflation expectations. In the case of the UK, this effect is more pronounced, prompting markets to price in tighter monetary policy from the Bank of England. The increase in energy prices amplifies inflationary pressures and may force the BoE to maintain or even raise interest rates for longer than expected, which supports the British pound. At the same time, the effect of expensive energy on the eurozone is more ambiguous, creating a relative advantage for GBP in the EURGBP pair. Thus, the combination of technical pressure below key resistance and the fundamental backdrop (via the energy factor and rate expectations) supports the scenario of further downside in the pair.