EUR/GBP Price Analysis: Momentum extends as pair nears 0.8475
- EUR/GBP edges 0.23% higher on Monday, climbing to 0.8460 with an intraday high of 0.8475.
- RSI points to overbought conditions yet still allowing further upside.
- MACD histogram features rising green bars, confirming the pair’s sustained bullish momentum.
The EUR/GBP cross advanced further on Monday, reaching 0.8460 and briefly peaking at 0.8475. This steady push higher highlights ongoing buyer dominance, as the pair consolidates gains made in recent sessions. Overall sentiment remains tilted toward the upside, with no immediate sign of a pullback.
From a technical standpoint, the Relative Strength Index (RSI) has nudged up to 70, an indication of modestly overbought conditions that could still accommodate additional appreciation if buying persists. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram continues to show expanding green bars, reinforcing the view that bullish forces are gathering pace.
Looking ahead, the pair may find initial resistance around the 0.8480–0.8500 zone, where sellers might begin to test the ongoing rally. On the downside, a slip beneath 0.8430 could open the door to 0.8400, potentially signaling a pause in the current uptrend if sellers gain traction.
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.
