EURGBP has traded flat between 0.8400 and 0.84348 for the past three days. It hit a high of 0.84354 and is currently trading around 0.84246.
Technicals-
Intraday trend is neutral.
The pair is trading below 34- and 55 EMA in the 4-hour chart.
The near-term resistance is around 0.84435 (55- 4H EMA), a breach above targets 0.84610/0.8485. 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 a major downtrend, a dip to 0.8330/$0.82550 is possible.
Indicator (4-hour chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index - Neutral
It is good to stay away.
