The EUR\/GBP currency pair fell on Thursday, nearing the 0.8500 level, indicating a bearish short-term trend. Various technical indicators suggest a downward momentum, despite major moving averages providing some longer-term support.<\/p>\n
Technically, the Relative Strength Index is neutral, while the Moving Average Convergence Divergence sends a sell signal, and the 10-period Momentum indicates growing selling interest. The Average Directional Index reveals weak trend strength, showing current pressure without a strong foundation.<\/p>\n
Short-term signals show bearishness, with both the 10-day Exponential and Simple Moving Averages trending downward. The 20-day Simple Moving Average also acts as resistance, though the 100-day and 200-day averages remain bullish, providing some structural support.<\/p>\n
Support levels are identified at 0.8470, 0.8457, and 0.8429, while resistance can be seen at 0.8498, 0.8499, and 0.8504. A dip below the support could lead to a further downturn, whereas surpassing resistance may challenge the bearish outlook.<\/p>\n
We\u2019re seeing continued weakness in EUR\/GBP, and the technical picture adds up to short-term pressure leaning to the downside. Thursday\u2019s slip brought the pair close to the 0.8500 level\u2014a threshold that often draws attention. While it hasn’t broken decisively below it yet, that area is looking exposed. With the Relative Strength Index floating in neutral territory, there\u2019s no suggestion of exhaustion in either direction. What\u2019s telling, though, is that sell signals are starting to stack.<\/p>\n
The Moving Average Convergence Divergence is tilting clearly bearish, and momentum on the shorter horizon confirms that. Interestingly, the 10-period Momentum continues to pull lower, suggesting that sellers still have some fuel left. We wouldn\u2019t call the trend strong, though; the Average Directional Index points to weak directional movement. So while pressure is there, it’s not steamrolling to new lows just yet.<\/p>\n
Looking at the short-term moving averages, they\u2019ve bent lower. Both the 10-day EMA and SMA are sliding, which often reflects underlying bearish traction, even if not overwhelming. Price has also been struggling to rise above the 20-day SMA\u2014a level now acting more like a lid rather than a floor. Those average-based measures are widely watched, especially when they begin to turn against the prevailing price action.<\/p>\n
Now, the longer-term picture is a bit more stable. The 100-day and 200-day SMAs, still angled upwards, may offer some support, though they\u2019re slightly removed from current levels. These lines can act as a buffer should price reach lower supports, but they\u2019re not guaranteed to hold. Recent action suggests those dip-buyers haven\u2019t quite stepped in yet.<\/p>\n
Support areas have started to compress. 0.8470 remains key at this stage, and a break below it paves a path toward 0.8457 and 0.8429\u2014not far, but enough to open up a steeper decline. Watch how price behaves around those points\u2014not just whether it touches them, but whether it pauses or slices straight through.<\/p>\n
Resistance is clustering around previous intraday highs\u2014mainly 0.8498 stretching through 0.8504. Efforts to push above have so far stalled quickly. If price were to reclaim 0.8500 and stay above it, traders may start questioning the strength of the downturn. But we\u2019re not seeing signs of that just now.<\/p>\n
From our perspective, it\u2019s not the time to chase reversals. Momentum is guiding the bias, and the trend structure shows pressure building without a clear counter-move. If anything, this creates short-term opportunities should weak rallies materialise and fail. One-sided moves rarely last, but right now, directional preference is still skewed. Structures around those 0.8470-level supports deserve close attention.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" EUR\/GBP nears 0.8500 as short-term indicators turn bearish despite longer-term moving averages offering support.<\/p>\n","protected":false},"author":5,"featured_media":17036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33],"tags":[],"class_list":["post-21674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/21674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/comments?post=21674"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/posts\/21674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/media?parent=21674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/categories?post=21674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-eu\/wp-json\/wp\/v2\/tags?post=21674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}