The EUR/GBP pair experienced upward movement, approaching the 0.8600 level during Wednesday’s trading session. Despite neutral readings from the Relative Strength Index (RSI) and other oscillators, the Moving Average Convergence Divergence (MACD) indicator is currently signaling a buy. Key support is identified at 0.85434, while resistance is observed near 0.85890. The underlying bullish trend is supported by the upward trajectory of the 20-day, 100-day, and 200-day Simple Moving Averages (SMAs), currently positioned at 0.84562, 0.83551, and 0.83799, respectively. Short-term support is further reinforced by the 10-day Exponential Moving Average (EMA) at 0.85434 and the 10-day SMA at 0.85599.
