EUR/GBP Price Analysis: Cross gains traction near 0.8600 despite neutral oscillators
- EUR/GBP trades near the 0.8600 zone after climbing higher during Wednesday’s session
- MACD prints a buy signal, while RSI and oscillators remain neutral
- Support aligns at 0.85434, with resistance forming near the 0.85890 zone
The EUR/GBP pair extended its upside momentum during Wednesday’s session, climbing toward the 0.8600 area after a 0.45% daily gain. Price action stayed mid-range between 0.85193 and 0.85765, with the bullish tone underpinned by the broader moving average structure, even as short-term oscillators signaled some hesitation.
The Relative Strength Index (RSI) is holding at 59.62, reflecting neutral momentum, while the Moving Average Convergence Divergence (MACD) is currently generating a fresh buy signal. However, the Commodity Channel Index at 60.04 and the Awesome Oscillator at 0.02 remain in neutral territory, failing to add clear directional conviction.
On the trend side, the structure remains constructive. The 20-day SMA at 0.84562, the 100-day SMA at 0.83551, and the 200-day SMA at 0.83799 are all sloping upward, confirming the underlying bullish pressure. Additional short-term support is provided by the 10-day Exponential Moving Average at 0.85434 and the 10-day SMA at 0.85599.
Daily chart
Author
Patricio Martín
FXStreet
Patricio is an economist from Argentina passionate about global finance and understanding the daily movements of the markets.
