- EUR/GBP trades near the 0.8500 zone after Thursday's session decline.
- There are bears' prejudices confirmed by the negative signals of the momentum and short -term trend characteristics.
- The immediate support is based below, while the key sensation corresponds to recent moving average.
The EUR/GBP pair was drifting lower on Thursday, traded near the 0.8500 zone after the European session and located in the middle of the day. The decrease reflects the growing mind of the bear in a short period of time, technical signals tilting the negative side. If the long -term outlook supports the large moving average, the current pulse vendors will favor the next trading phase.
From a technical perspective, Karut is emphasized by several indicators. The relative strength index is a neutral attitude near 46, but the difference in moving average approach continues to show a sales signal, strengthening the current downward trend. The 10-season momentum is also a negative, which indicates that the sale of interest is gradually construction. At the same time, the average direction index shows a weak trend strength, which indicates that while the pressure exists, it must still be fully solidified.
The short -term trend structure confirms the bear view. The 10-day exponential and simple moving mediums are both downwards, while a 20-day simple mobile average also strengthens resistance. On the other hand, the long-term 100-day and 200-day simple moving medium bullish, is well positioned, and sloping upward-indicates wider structural support.
Support levels are found at 0.8470, 0.8457 and 0.8429. The obstacle is 0.8498, 0.8499 and 0.8504. The distribution under the support nearby may be directed to a couple of deeper corrections, while short -term resistance would require a short -term resistance.
Daily chart
