EURGBP Up 1 Pips in Last Hour; Moves Down For the 5th Straight Day

Hourly Update

(Last Updated January 14, 2021 2:19 GMT)

Currently, EURGBP’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURGBP. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURGBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURGBP is down 21 pips (0.23%) since the previous day (opening today near 0.89106), marking the 5th straight day a decline has happened. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 24th in terms of percentage change since the previous day. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Notably, the current price of EURGBP is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 72.7 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EURGBP’s price has gone up 15 them.