EUR/GBP: Bearish Bias Prevails Despite Temporary Rebound

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The EUR/GBP pair has experienced a temporary rebound, but the overall bearish trend remains intact. The pair is still trading below its 20-day SMA, indicating

The EUR/GBP pair has experienced a temporary rebound, but the overall bearish trend remains intact. The pair is still trading below its 20-day SMA, indicating a short-term bearish bias.

Key Technical Indicators:

  • RSI: The RSI is recovering, but it’s still in neutral territory, suggesting a potential pause in the downward momentum.
  • MACD: The MACD is flat and in negative territory, indicating a lack of strong directional momentum.

Support and Resistance Levels:

  • Support: 0.8300, 0.8250, 0.8230
  • Resistance: 0.8340, 0.8360, 0.8400

While the recent rebound may offer a short-term buying opportunity for traders, it’s important to be cautious as the overall bearish trend remains in place. A break below the 0.8300 level could accelerate the downward movement.

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The EUR/GBP pair has experienced a temporary rebound, but the overall bearish trend remains intact. The pair is still trading below its 20-day SMA, indicating a short-term bearish bias. Key Technical Indicators: Support and Resistance Levels: While the recent rebound may offer a short-term buying opportunity for traders, it’s important

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