EUR/GBP Price Analysis: Negative trend continues, downside risks prevail
Source Fxstreet
- EUR/GBP pair is on a four-day losing streak, reaching lows not seen in over a week
- The MACD's rising red bars and declining RSI indicate increasing bearish momentum, suggesting further weakness for the pair.
- Pair has broken deep below its 20-day SMA, reaching multi-week lows.
The EUR/GBP fell towards 0.8310 as sellers continue pushing downwards but will face strong support at the psychological 0.8300 area.
The cross has been on a downward trajectory, breaking below its 20-day SMA and reaching multi-week lows. Technical indicators such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) confirm this bearish trend, signaling increasing selling momentum. The pair has recorded four consecutive days of losses, indicating that the selling pressure is intensifying, and further declines are possible.
The RSI is currently in negative territory at 42, with a mildly declining slope, implying that sellers are gaining momentum. The MACD's rising red histogram and elevated volume further support the bearish sentiment, indicating that bearish forces are dominating the market.
Support levels: 0.8300, 0.8275, 0.8250.
Resistance levels:0.8330, 0.8350, 0.8375.
EUR/GBP daily chart
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for cryptoThe US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks inThe U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.
The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.
Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollarSpot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.
Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.
Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.
Brent slides below $102 after Houthis' first strike on Riyadh — why oil can't hold $100Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.
Houthi forces struck Riyadh for the first time on September 19 and hit Yanbu facilities — yet Brent opened at $104.71, peaked at $104.90 and settled at $101.68 (-1.63% on the day). Here is the four-way data tug-of-war between strike escalation and supply recovery, and the two switches that decide where oil goes next.
Related Instrument
