EUR/GBP: Resuming Selling Pressure Amidst Currency Cross Trends

Friday, 13 September 2024, 08:50

EUR/GBP analysis shows that selling pressure has resumed significantly. The recent behavior of the EUR/GBP currency pair highlights multiple rejections by the 20-day SMA, suggesting diminishing traction from buyers in this currency cross. Market sentiment indicates steady selling forces while buying appears to retreat.

Fxstreet — EUR/GBP: Resuming Selling Pressure Amidst Currency Cross Trends

EUR/GBP Overview

The EUR/GBP currency pair has recently displayed notable selling pressure as it intersects with the 20-day SMA. This behavior indicates a potential decline in buyer traction, with multiple rejections observed.

Market Dynamics

Recent Rejections: The 20-day SMA shows consistent resistance.
Seller Dominance: Selling forces remain robust, impacting overall market sentiment.

Outlook for EUR/GBP

Continued volatility in the currency cross.
Potential further declines if selling pressure persists.

Overall, the EUR/GBP analysis points toward a landscape where sellers maintain control, impacting future movements in this key currency pair.

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.