What's the prediction EUR/GBP now?

The current sentiment and analysis suggest that the EUR/GBP pair is likely to experience a bearish trend in the short term.

1. Technical Indicators: The EUR/GBP pair is trading below its 50-day and 200-day moving averages, which typically indicates a bearish trend. Additionally, the RSI is below 50, suggesting that the pair is currently oversold.
2. Support and Resistance Levels: The pair is trading near the support level of 0.8408 and the resistance level of 0.8425. A break below the support level could lead to further downward movement.
3. Market Sentiment: The sentiment among traders is mixed, with some indicating a bearish sentiment due to factors such as the potential for a deeper correction and the impact of monetary policy changes on the pair.
4. Central Bank Influence: The European Central Bank (ECB) and the Bank of England's monetary policy decisions can significantly impact the EUR/GBP rate. Any indication of a hawkish outlook from the ECB or a dovish outlook from the BoE could affect the pair.
5. Historical Performance: The pair's historical performance shows that it tends to be less volatile, but it can still be influenced by economic data releases and political developments.

In conclusion, while there is a potential for a bullish signal, the current sentiment and technical indicators suggest that the EUR/GBP pair is more likely to experience a bearish trend in the short term. Traders should monitor central bank announcements, economic data releases, and any geopolitical events that could impact the pair's movement.