EUR/GBP Price Analysis: Bears make a stride, cross in lows in over a week

Technical indicators send signals of the bulls weakening, with the RSI in oversold territory and the MACD showing decreasing green bars.
The 20-day SMA support is now gone.

Patricio Martín FXStreet

Wednesday’s EUR/GBP market has been dominated by significant losses, extending a bearish trend that has lasted the past seven trading sessions. This downward momentum has pushed the pair below its 20-day Simple Moving Average (SMA) and down to its lowest point in over a week.

Technical indicators are presenting a nuanced outlook. The Relative Strength Index (RSI), which measures the strength or weakness of price movements, has dipped into negative territory and its downward trajectory indicates a rise in selling pressure. The RSI's current value of 45 places it in the negative zone. The Moving Average Convergence Divergence (MACD), a trend-following indicator, displays decreasing green histogram bars. This suggests that buying pressure is waning.

The EUR/GBP cross plunged and lost the 20-day Simple Moving Average (SMA), indicating a potential downward trend. This decline pushed the cross to its lowest point in over a week, further suggesting a bearish sentiment. Supports now line up at 0.8330, 0.8315 and 0.8300.

EUR/GBP daily chart

Author

Patricio Martín

FXStreet

Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.