- The EUR/GBP operates near the 0.8500 zone after a slight fall in Thursday’s session.
- The upward trend remains intact despite mixed impulse signs.
- The long -term mobile socks are supported, contrasting with the short -term resistance that limits the rise.
The EUR/GBP pair showed a slight weakness on Thursday, operating near the 0.8500 area after the European session. Despite today’s marginal fall, the general structure remains favorable to a bullish bias, backed by a solid base of longer -term mobile socks. However, short -term indicators show contradictory signals, with the impulse fading even when the broader trend remains stable.
From a technical point of view, the EUR/GBP tilts in general towards the rise. The relative force index remains neutral near the midpoint, suggesting that there are no extreme conditions. The MACD currently delivers a sales signal, indicating a decreasing impulse, while the stochastic %K has fallen into over -sales territory, indicating a possible purchase setup. The raw material channel index is also neutral, adding to the mixed image in the short term.
Structural strength comes from mobile socks. The exponential and simple mobile socks of 50 days are well below the current prices and continue to point up, reinforcing the broader bullish setup. In contrast, the 20 -day SMA – positioned slightly above the spot – can act as a short -term roof. Meanwhile, the 100 -day and 200 -day SMAs are still firmly bullish, continuing to provide a solid base for buyers.
The support is seen at 0.8478, followed by 0.8462 and 0.8434. The resistance is 0.8492, 0.8497 and 0.8516.
Daily graph
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
