In Monday's session the EUR/GBP and declined by 0.15% to 0.8425.
The EUR/GBP pair extended its losses on Monday, declining to 0.8425. Technical indicators, including the RSI and MACD, suggest that selling pressure is increasing. Bulls failed to conquer the 20-day SMA which paved the way for the downside. In Monday's session the EUR/GBP and declined by 0.15% to 0.8425. The pair has been trading sideways in a narrow range over the past sessions, with no clear directional bias.
The Moving Average Convergence Divergence is flat with a green histogram, indicating that buying pressure is flat. The overall outlook is mixed, with the RSI suggesting that selling pressure is rising and the MACD suggesting that buying pressure is flat leaving the cross exposed to further declines. EUR/GBP daily chart The EUR/GBP pair has been consolidating within a narrow range for the past few trading sessions, fluctuating between 0.8425 and 0.8450.
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