EUR/GBP experience slight loss post ECB, BoE rate decisions

EUR/GBP traded slightly lower in Thursday’s session, remaining pinned at 0.8610. The daily chart shows a neutral to bearish outlook, with buyers struggling to gain traction.

The Relative Strength Index (RSI) is in negative territory, signaling continued downward momentum. The Moving Average Convergence Divergence (MACD) shows red bars, indicating bears still hold control.

A potential bearish crossover around the 0.8630 area between the 20 and 100-day SMAs could ignite more downside movements. On the four-hour chart, the indicators are in a holding pattern, with the RSI and MACD flat in positive territory.

The flat, positive territory position of the RSI hints at some short-term bullish momentum, but it’s not strong enough to overturn the broader bearish bias.

Support Levels: 0.8600, 0.8580, 0.8530.
Resistance Levels: 0.8635 (20 and 100-day SMA convergence), 0.8650, 0.8670.