The daily chart reveals a mostly bearish environment with somewhat flat indicators.
The hourly chart analysis depicts a potential bearish shift with the RSI reading close to the neutral-negative zone.
The EUR/GBP pair is currently trading at 0.8550, with minor losses on Friday’s session. The sellers are exerting their presence as bullish momentum remains weak and the fact that the cross remains below its main Simple Moving Averages (SMAs) of 20,100 and 200-days contributes to the bearish bias.
On the daily chart, the Relative Strength Index (RSI) currently resides in negative territory but stands flat while the Moving Average Convergence Divergence (MACD) prints neutral green bars, suggesting stagnant momentum. This demonstrates the trend might continue in the near term.
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