EURGBP Technical Analysis Report for 13 December, 2024
The EURGBP pair is showing signs of consolidation as it continues to trade within a narrow range. The pair has been trading in a tight range between 0.8520 and 0.8570 for the past few trading sessions.
The 50-day moving average is currently at 0.8545, acting as a key support level for the pair. If the pair breaks below this level, it could signal further downside potential towards the next support level at 0.8520. On the upside, the 0.8570 level remains a key resistance level for the pair.
The RSI indicator is currently hovering around the 50 level, indicating a neutral bias in the market. Traders should keep an eye on the RSI to see if it moves above or below this level, as it could signal a shift in momentum.
Overall, the EURGBP pair is in a consolidation phase, with key support and resistance levels to watch. Traders should wait for a clear break above or below these levels before initiating any trades.