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EURGBP stops near 2½-year low; neutral zone intact
EURGBP is trading near its weakest level since 2017, following a plunge from the 0.8385 barrier in the preceding week. The pair created a consolidation area from 0.8275 to 0.8590 since December 13 but is still moving below the short- and medium-term moving averages, confirming the long-term bearish structure from the ten-year peak of 0.9324. From a technical viewpoint, the momentum indicators seem to be in confusion as the MACD is holding below its trigger line, which supports the bearish view as well, however, the RSI is heading slightly up in the negative zone. Should bearish dynamics dominate, the market might ... (full story)