- EUR/GBP trading near 0.8500 zone after Friday European session.
- Despite a slight intraday pullback, the wider signals maintain a bullish tone.
- Resistance visible near 0.8550; Support clustered around 0.8530-0.8520 place.
The EUR/GBP pair saw the trade near the 0.8500 mark at the Friday session, editing a lower intraday still holding a mid-range of 0.8511 to 0.8548. Investors appear to be careful in the middle of a light macroeconomic backdrop, along with a pair moving with -sync with mild transfers to greater sentiment on the market.
Technically, the pair continues to display a bullish structure despite the minor pullback. The 20, 100, and 200-day simple moving averages-currently at 0.8533, 0.8377, and 0.8388 respectively-all tilted upward, emphasizing long-term strength. It is further supported by the 30-day exponential transfer of average and 30-day simple average, which adopts a bullish bias around 0.8498 and 0.8479 zones.
Momentum indicators show a more careful perspective. The Kamag -child index is holding neutral, while the MACD hints to a possible bearish change. The stochastic %K and the commodity channel index remain neutral, suggesting that the belief of direction may be limited in the short term.
The support was stacked around 0.8533, 0.8533, and 0.8527, while the resistance lies at 0.8553, 0.8556, and 0.8565. Businessmen may find a clear rest above the resistance cluster to confirm that the updated inverted interest. Until then, the pair can continue to be locations within its current range, waiting for a catalyst.
Sunny chart
