Bulls hold ground despite mixed signals post-European session
The post Bulls hold ground despite mixed signals post-European session appeared on BitcoinEthereumNews.com.
EURGBP trades near the 0.8550 zone, holding modest daily gains after Thursday’s European session. Bullish momentum is underpinned by positive signals from key moving averages despite mixed indicators. Support rests near 0.8525–0.8527; resistance capped by the 0.8550–0.8560 region. The EURGBP pair moved steadily near the 0.8550 zone on Thursday, holding onto slight intraday gains following the European session. The broader context remains dominated by Fed-related headlines, with investors reacting to cautious remarks from Governor Waller regarding tariffs and their economic implications. Meanwhile, US Dollar weakness following Trump and Bessent’s conflicting tariff messaging helped lift the euro modestly, though not without hesitation. From a technical standpoint, EURGBP is flashing a bullish overall signal despite intraday consolidation. The pair is navigating the mid-range of 0.8534 to 0.8565, with the Relative Strength Index (RSI) at approximately 54 and signaling neutral momentum. The MACD is still flashing a mild sell signal, yet this is contrasted by slight buying pressure from Bull Bear Power. The Average Directional Index (ADX) remains below the trending threshold, confirming a lack of directional strength. However, a key element of support for the bullish case lies in the moving averages. The 20-day, 100-day, and 200-day simple moving averages at 0.8525, 0.8374, and 0.8388 respectively are aligned to the upside. Similarly, the 30-day exponential and simple moving averages — at 0.8495 and 0.8475 — reinforce upward structure. Daily chart Source: https://www.fxstreet.com/news/eur-gbp-price-analysis-bulls-hold-ground-despite-mixed-signals-post-european-session-202504241611
Filed under: News - @ April 24, 2025 6:27 pm