The daily chart reveals a mostly bearish environment with somewhat flat indicators. The hourly chart analysis depicts a potential bearish shift with the RSI reading close to the neutral-negative zone. The sellers are exerting their presence as bullish momentum remains weak and the fact that the cross remains below its main Simple Moving Averages of 20,100 and 200-days contributes to the bearish bias.
Coupled with flat green bars on the MACD histogram, there might be a shift towards a bearish momentum after the bulls' short recovery during the European session. EUR/GBP hourly chart In conclusion, both the daily and hourly analyses point to a primarily negative trend for EUR/GBP, albeit with potential hourly fluctuations. If the buyers want to avoid losses they should reclaimthe 200-day SMA around 0.8550 and build support around it. EUR/GBP Overview Today last price 0.
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Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »