Insights 
VT 
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.
Technical Indicators Analysis
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.
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.
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.
We’re seeing continued weakness in EUR/GBP, and the technical picture adds up to short-term pressure leaning to the downside. Thursday’s slip brought the pair close to the 0.8500 level—a 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’s no suggestion of exhaustion in either direction. What’s telling, though, is that sell signals are starting to stack.
Market Momentum and Moving Averages
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’t 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.
Looking at the short-term moving averages, they’ve 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—a 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.
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’re slightly removed from current levels. These lines can act as a buffer should price reach lower supports, but they’re not guaranteed to hold. Recent action suggests those dip-buyers haven’t quite stepped in yet.
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—not far, but enough to open up a steeper decline. Watch how price behaves around those points—not just whether it touches them, but whether it pauses or slices straight through.
Resistance is clustering around previous intraday highs—mainly 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’re not seeing signs of that just now.
From our perspective, it’s 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.
