EUR/GBP Price Analysis: Mixed outlook as selling pressure rises, 20-day SMA rejects buyers
Source Fxstreet
- EUR/GBP got rejected once again by the 20-day SMA.
- RSI suggests selling pressure is rising, while MACD indicates buying pressure is declining.
- Movements below the 0.8400 threshold might trigger movements towards 0.8300.
In Thursday's session the EUR/GBP declined by 0.30% to 0.8330 after the cross surged and attempted to recover the 20-day SMA on Wednesday but got rejected and resumed its downwards paths.
The Relative Strength Index (RSI) is currently at 40, in negative area and on a declining slope, indicating that selling pressure is rising while the Moving Average Convergence Divergence (MACD) suggests buying pressure is declining.
In case the cross fails to recover the 20-day SMA around 0.8350 support levels are at 0.8315, and 0.8300, while key resistance levels at 0.8380, 0.8400, and 0.8420.
EUR/GBP daily chart
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Insights - On October 17, TSMC (TSM) released its financial results for the third quarter of 2024.The company reported Q3 revenue of NT$759.69 billion, surpassing the market expectation of NT$751.06
Investing.com -- Jefferies began coverage of exposure management stocks on Wednesday, citing “reason for optimism” within the sector despite cyclical headwinds.
Staked Ethereum dominated by top 10 entities with the biggest influenceEthereum staking has evolved in the past year, but a large share of the staked coins are controlled by only 10 entities. The popularity of liquid staking and the first-mover advantage of some protocols meant not all validators were created equal when it comes to holding ETH.
Ethereum staking has evolved in the past year, but a large share of the staked coins are controlled by only 10 entities. The popularity of liquid staking and the first-mover advantage of some protocols meant not all validators were created equal when it comes to holding ETH.
USD/JPY holds below 149.50 ahead of US Retail Sales dataThe USD/JPY pair weakens to around 149.40 despite the stronger US Dollar (USD) during the Asian trading hours on Thursday. The US Retail Sales data will take center stage later on Thursday, which is estimated to rise to 0.3% in September from 0.1% in the previous reading.
The USD/JPY pair weakens to around 149.40 despite the stronger US Dollar (USD) during the Asian trading hours on Thursday. The US Retail Sales data will take center stage later on Thursday, which is estimated to rise to 0.3% in September from 0.1% in the previous reading.
Why Cisco Systems Stock Zoomed More Than 4% Higher TodayAn analyst recommendation upgrade was the news propelling the stock of Cisco Systems (NASDAQ: CSCO) skyward on Wednesday. Investors took the bullish new rating to heart, pushing into shares of the veteran computer networking company and sending them more than 4% higher in price.
An analyst recommendation upgrade was the news propelling the stock of Cisco Systems (NASDAQ: CSCO) skyward on Wednesday. Investors took the bullish new rating to heart, pushing into shares of the veteran computer networking company and sending them more than 4% higher in price.
Related Instrument
