EURGBP showed a minor jump after a massive sell-off. It hit a high of 0.84436 and is currently trading around 0.84318.
UK Halifax house price for August came at 0.30% vs forecast of 0.20%.
Technicals-
Intraday trend is neutral.
The pair trades below 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 0.84536 (23.6% fib), a breach above the target 0.84864. Any close above 0.84865 confirms that the bearish trend has halted at 0.8400. A jump to 0.85393 is possible. The immediate support is at 0.8400, any violation below will drag the pair to 0.83830 (Jul 17th, 2024). Any close below 0.83830 confirms the resumption of major downtrend, a dip to 0.8330/$0.82550 is possible.
Indicator (4-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Neutral
It is good to stay away.
