Image Source:
In Tuesday’s session, the EUR/GBP pair mildly rose to 0.8440 and is showing that the technical outlook remains mixed. Bears seem to be taking a breather after shedding more than 1% in August, but the overall technical outlook is still pointing at a bearish market. The Relative Strength Index (RSI) remains in negative territory, around 44, with a mildly neutral slope, signaling flattening bearish momentum. The Moving Average Convergence Divergence (MACD) prints decreasing red bars, further reinforcing the flattening bearish traction. The EUR/GBP pair continues consolidating above 0.8400, which serves as immediate support following the sharp declines in August. Resistance is found at 0.8440, and a break above this level could lead to further gains towards 0.8450 and 0.8470.
EUR/GBP daily chart
GBP/CHF Edges Lower As Swiss Franc Continues To Outperform EUR/GBP Price Analysis: Consolidating Sideways As Technical Indicators Neutralize USD/JPY Strengthens Further Beyond 143.00, Hits Fresh Daily Peak Amid Modest USD Strength
