EUR/GBP Daily Outlook – Intraday Analysis and Support Levels

Tuesday, 23 July 2024, 06:33

The current intraday bias for EUR/GBP has shifted to neutral as the 4-hour MACD has crossed below its signal line. Although there could be a potential rebound from the support level at 0.8382, the overall outlook remains bearish, particularly if the resistance at 0.8498 continues to hold. A larger downtrend is anticipated, especially if we test the support at 0.8382 in the near future.
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EUR/GBP Daily Outlook – Intraday Analysis and Support Levels

EUR/GBP Daily Outlook

The intraday bias for EUR/GBP has turned neutral again, influenced by recent movements in the market.

Market Analysis

  • 4-hour MACD has crossed below its signal line, indicating potential shifts in market dynamics.
  • A rebound from the support level at 0.8382 could occur, yet the overall sentiment remains bearish.
  • The resistance level at 0.8498 is critical; as long as it holds, downward pressure may continue.

Outlook Conclusion

In summary, while some short-term rebounds may be possible, the larger trend suggests a continuation of downward movements, particularly if key levels hold steady.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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