- The EUR/GBP was last seen quoting near the 0.8600 area after modest advances in Monday’s session
- The MACD indicates while the general impulse remains neutral
- The support is built around 0.8560 as mobile socks continue to favor the bulls
The EUR/GBP pair extended its positive impulse on Monday after the European session, staying close to the 0.8600 area after a daily gain of 0.31%. The price action ranged in an average range between 0.8577 and 0.8624, with the bullies managing to maintain control without triggering a break.
From a technical perspective, the MACD shows a purchase signal, reinforcing the bullish tone. However, other indicators such as the Relative Force Index (RSI) in 60, the percentage range of Williams in -34.32, and the Stochastic %K in 61.06, remain in neutral territory, pointing to a stable ascending trend instead of aggressive.
The broader technical structure continues to support buyers. The 20 -day SMA at 0.84937, together with the SMAS of 100 days and 200 days in 0.83665 and 0.83854 respectively, confirm the upward background. The short -term mobile socks – the 10 -day EMA at 0.85657 and the 10 -day SMA at 0.85909 – are also aligned with the ongoing ascending trend.
Down, the support is observed at 0.85909, followed by 0.85680 and 0.85657. If the pair manages to break above its daily peak, it could face resistance near the area of 0.8625.
Daily graph
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.
