Eur/gbp. Give me prediction and analysis for the next 2 hours

EUR/GBP Prediction and Analysis for the Next 2 Hours

1. Short-Term Forecast:
   • The EUR/GBP pair is expected to trade within a narrow range, with a slight bias towards the upper end of the range.
   • The exchange rate is forecasted to remain firm around 0.8380 in the next 24 hours.
2. Technical Analysis:
   • The pair is trading above the 20-day Simple Moving Average (SMA) of 0.8380, indicating a bullish bias.
   • The Relative Strength Index (RSI) is at 46 in negative territory, suggesting rising selling pressure.
   • The Moving Average Convergence Divergence (MACD) presents a decreasing green histogram, indicating declining buying pressure.
3. Market Sentiment:
   • The sentiment is cautious, with a potential for a breakout if the price can defend the 20-day SMA.
   • The recent consolidation suggests a buildup of potential energy for a future move.
4. Fundamental Analysis:
   • The EUR/GBP is sensitive to interest rate differentials, with the European Central Bank (ECB) and the Bank of England's (BoE) stances crucial.
   • The ECB's expected rate cuts and the BoE's potential delay in rate cuts could lead to diverging interest rate paths, affecting the exchange rate.
5. Conclusion: The EUR/GBP exchange rate is likely to experience limited movement in the next two hours, with a slight uptick expected due to the bullish bias. The key will be the sentiment's evolution and any developments regarding interest rates. If the pair can break through the resistance level of 0.8400 and hold above the 20-day SMA, it could rise to 0.8450 or even 0.8500; otherwise, a decline below the support level of 0.8320 could lead to further declines.