Technical Analysis: Euro remains under significant bearish pressure
EUR/GBP trades at 0.8615 with a bearish near-term tone, holding a few pips above the lows of March 2026 and August 2025, with momentum indicators in most timeframes highlighting strong negative pressure.Β
The 4-hour Relative Strength Index (14) sits just above oversold levels, while the Moving Average Convergence Divergence (MACD) remains slightly negative. A confirmation below the mentioned 0.8611 would expose the August 2025 bottom, at 0.8595, and the 161.8% Fibonacci extension of Monday's sell-off, at the 0.8585 area.Β
On the topside, initial resistance appears at Tuesday's highs of 0.8634, followed by the June 19 low, at 0.8657. A break above these would open the way toward the June 18 and 21 highs, around 8.8680.