- The EUR/GBP operates near the 0.8500 area after having fallen during Thursday’s session.
- The bearish bias prevails, confirmed by downward signals of the Momentum and Short -term trend indicators.
- The immediate support is below, while the key resistance is aligned around recent mobile socks.
The EUR/GBP pair slipped down on Thursday, operating near the 0.8500 area after the European session and settling in the middle of the range of the day. The fall reflects a growing low -term bearish feeling, with technical signs leaning towards the decline. While the long -term perspective remains supported by important mobile socks, the current momentum favors sellers for the next negotiation phase.
From a technical perspective, the bearish tone is underlined by several indicators. The relative force index maintains a neutral posture about 46, but the indicator of convergence/divergence of mobile socks continues to show a sales signal, reinforcing the current downward trend. The 10 -period momentum is also negative, suggesting that the sales interest is gradually accumulating. Meanwhile, the average directional index shows a weak force force, indicating that although the pressure is present, it has not yet been completely solidified.
The short -term tendency structure confirms the bearish vision. The exponential and simple mobile socks of 10 days are both in downward trend above the price, while the simple 20 -day mobile average also reinforces the resistance. On the other hand, the simple mobile socks of 100 days and 200 days in the long term remain bullish, positioned well below and even bowing up, which suggests that a broader structural support persists.
Support levels are found at 0.8470, 0.8457 and 0.8429. The resistance is 0.8498, 0.8499 and 0.8504. A rupture below the near support could expose the torque to a deeper correction, while a closure above the short -term resistance would be necessary to challenge the prevailing bearish bias.
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.
