- Analytics
- News and Tools
- Market News
- EUR/GBP Price Analysis: Pair weakens toward critical 200-day SMA
EUR/GBP Price Analysis: Pair weakens toward critical 200-day SMA
- EUR/GBP edges lower to 0.8445 on Thursday, maintaining a cautious tone near key support levels.
- Momentum wanes as the pair approaches the 200-day SMA at 0.8420.
- Technical signals suggest limited upside unless buyers reclaim the 0.8465 resistance zone.
The EUR/GBP pair edged lower on Thursday, slipping to 0.8445 as it drifts closer to the 200-day Simple Moving Average (SMA), positioned around 0.8420.
Technical indicators reflect a waning bullish bias. The Relative Strength Index (RSI) remains at 65, staying in positive territory but showing no signs of further advancement, pointing to a neutral stance. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram continues to display decreasing green bars, highlighting diminishing upward pressure and raising the possibility of further downside.
In the immediate term, the 200-day SMA at 0.8420 serves as a pivotal support level; a sustained breach below this could open the door for a move toward the 0.8400 mark. On the upside, recovery efforts will need to reclaim 0.8465 to challenge the 0.8500 psychological resistance, which would mark a significant improvement in the pair’s outlook.
EUR/GBP daily chart
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
