- EUR/GBP trading near the 0.8500 zone after a quiet Wednesday session.
- The general tone remains bullish, supported by longer averages despite mixed short-term signals.
- Support levels only hold below, as the resistance is aligned near the top.
The EUR/GBP The pair remained relatively flat on Wednesday, walking near the 0.8500 zone after the European session. The price action is enclosed within a narrow range, reflecting a market that lacks the clear direction of momentum. While the shorter indicators suggest some pressure sale, the wider structure remains bullish, supported by long -term moving averages that are constantly raising upward.
From a technical stance, the pair presents a mix of picture. The relative index index (RSI) is sitting near 50, proving a neutral bearing, while moving the average convergence of the convergence (MACD) prints a seller's signal, indicating potential close weakness. The coverage of the Williams percentage and average direction index is also neutral, which points to a lack of strong bias of direction in the immediate term.
However, the broader trend remains constructive. The 30-day exponential transfer of the average and 50-day exponential transfer of average, both positioned below the current levels, strengthen the underlying bullish tone. In addition, the 100-day and 200-day simple moving averages, significantly lower, continues to slip upwards, providing a durable base for the pair in the medium term.
The support is located at 0.8500, 0.8470, and 0.8452. The resistance is visible at 0.8508, 0.8510, and 0.8513. A prolonged move above resistance can confirm the broader bullish perspectiveWhile a rest below support is likely to lead to a retest of recent lows.
Sunny chart
