The EUR/GBP pair has been trading in a narrow range over the past few days, with minimal price fluctuations.
EUR/GBP remains sideways, technical indicators are mixed. Buyers got rejected by the 20-day SMA. Indicators suggest a neutral to slightly bullish bias. The pair is currently trading at 0.8335, slightly lower than its opening price for the day after getting rejected by the 20-day Simple Moving Average . Technical indicators are sending mixed signals. The Relative Strength Index is hovering around 44, indicating that selling pressure is rising as it points down.
However, the Moving Average Convergence Divergence is green and rising, suggesting that buying pressure is also increasing. The overall short-termoutlook is mixed, with the RSI indicating a bearish trend and the MACD indicating a bullish recovery. In terms of support and resistance levels, support can be identified at 0.8330, 0.8315, and 0.8300, while resistance levels stand at 0.8350, 0.8370 and 0.8400.
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