- 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 EUR/GBP pair has been trading in a narrow range over the past few days, with minimal price fluctuations. 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 (SMA).
Technical indicators are sending mixed signals. The Relative Strength Index (RSI) is hovering around 44, indicating that selling pressure is rising as it points down. However, the Moving Average Convergence Divergence (MACD) is green and rising, suggesting that buying pressure is also increasing. The overall short-term outlook 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. The pair is likely to continue trading within this range in the near term if the buyers are unable to conquer the 20-day SMA at 0.8350.
EUR/GBP daily chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD clings to recovery gains above 0.6200, focus shifts to US ISM PMI
AUD/USD sustains the recovery from two-year troughs, holding above 0.6200 in Friday's Asian trading. The pair finds footing amid a pause in the US Dollar advance but the upside appears elusive as markets turn cautious amid China concerns and ahead of US ISM PMI data.
USD/JPY eases toward 157.00 as risk sentiment sours
USD/JPY is extending pullback from multi-month high of 158.07 set on Thursday. The pair drops toward 157.00 in the Asian session on Friday, courtesy of the negative shift in risk sentiment. Markets remain concerned about China's econmic health and the upcoming policies by the Fed and the BoJ.
Gold flat lines above $2,650 ahead of US PMI release
Gold price consolidates its gains near $2,660 after reaching a two-week high during the early Asian session on Friday. The safe-haven flows amid the geopolitical tensions provide some support to the precious metal.
Could XRP surge to new highs in January 2025? First two days of trading suggest an upside bias
Ripple's XRP is up 7% on Thursday, extending its rally that began during the New Year's Day celebration. If long-term holders continue their recent accumulation, XRP could overcome the $2.9 resistance level and aim for a new all-time high.
Three Fundamentals: Year-end flows, Jobless Claims and ISM Manufacturing PMI stand out Premium
Money managers may adjust their portfolios ahead of the year-end. Weekly US Jobless Claims serve as the first meaningful release in 2025. The ISM Manufacturing PMI provides an initial indication ahead of Nonfarm Payrolls.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.