Today, the EUR/USD pair edged up by 0.01%, marking a price of 1.08475. Hovering just below the pivot point of 1.0855, the currency pair shows potential for either direction. Immediate resistance levels are found at 1.0888, 1.0912, and 1.0942, setting the stage for upward momentum.

Support levels are positioned at 1.0835, followed by 1.0802 and 1.0766, which could safeguard against further declines. The 50-day and 200-day Exponential Moving Averages (EMAs), almost identical at 1.0861 and 1.0860 respectively, suggest a tightly contested market.

The overall trend leans towards bearish below 1.0855, but a move above this threshold could tilt the balance towards a bullish outlook.

GBP/USD Technical Forecast