The EUR/GBP pair trades around 0.8380, consolidating sideways and displaying no clear trend.
Overall, the EUR/GBP consolidates sideways with no clear trend. RSI suggests rising selling pressure, while MACD indicates declining buying pressure in the short term. Bulls failed to defend the 20-day SMA which wornsed the outlook In addition, the cross lost the 20-day Simple Moving Average which might a downwards leg. The technical indicators present that the bulls are backing off.
The Relative Strength Index is at 46in negative territory and declining, indicating rising selling pressure. The Moving Average Convergence Divergence presents a decreasing green histogram, suggesting declining buying pressure. Bullish pressure can prevail if the price can break through the resistance level of 0.8400 and firmly hold above the 20-day Simple Moving Average . If that happens, the EUR/GBP pair could rise to 0.8450 or even 0.8500.
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EUR/GBP Price Analysis: Bulls make a stride and challenge the 20-day SMAIn Wednesday's session, when the EUR/GBP broke out and saw 0.40% gains to rise near 0.8450.
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EUR/GBP Price Analysis: Bulls gather steam, aim for critical resistanceIn Tuesday's session, the EUR/GBP rose by 0.28% to 0.8450 and extended its sideways trading range tracking the narrow-range movements of the past sessions.
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EUR/GBP Price Analysis: Bulls regain some ground as the pair consolidatesEUR/GBP recovered some lost ground on Tuesday, rising mildly to 0.8330, but the overall technical outlook remains bearish as the pair stands at multi-year lows.
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EUR/GBP Price Analysis: Bulls in control as long they sustain 20-day SMAThe EUR/GBP pair remains confined within a recent range and declined by 0.10% on Tuesday to 0.8380.
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EUR/GBP Price Analysis: Bears show no mercy and push the cross to lows since 2022The EUR/GBP pair continued its downward streak on Monday, declining by 0.50% to 0.8335, its lowest level since April 2022.
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EUR/GBP Price Analysis: Bears ease their grip, buyers still remain weakIn Thursday's session, the EUR/GBP retreated and stands flat around 0.8440, showcasing a mixed technical outlook.
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