- The EUR/GBP pair is consolidating sideways between 0.8410 and 0.8450.
- The RSI is flat at 43, while the MACD is also neutral with the red MACD bars declining.
- The pair could break out of this range if volume increases.
In Monday’s session, the EUR/GBP pair eased slightly to 0.8440, facing a mixed technical outlook with indicators flat in negative territory.
The Relative Strength Index (RSI) remains in negative territory, around 43, with a flat signal, indicating flattened bearish momentum. The MACD is presenting flat red bars, further reinforcing the flattened bearish traction. Moreover, volumes have been declining over the past few sessions.
After the strong downward moves in August, the EUR/GBP pair is consolidating above the 0.8400 level. The pair has found support at 0.8410 and resistance at 0.8450. If the pair breaks out of this range, it could move to the next support level at 0.8380 or to the next resistance level at 0.8460.
EUR/GBP daily chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
