On the daily chart, the Relative Strength Index (RSI) for the EUR/GBP pair resides in negative territory, suggesting a slight bearish momentum. Despite brief transitions into positive territory, the RSI has reverted to negative levels in recent sessions, revealing that sellers maintain dominance. The green bars on the Moving Average Convergence Divergence (MACD) histogram reflect positive momentum, albeit flat, potentially indicating a weak presence of the bulls.
Regarding the overall trend, the pair is trading below its 20, 100, and 200-hour Simple Moving Averages, which gives arguments for a bearish outlook
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