(Last Updated April 2, 2021 23:18 GMT)
At the moment, EURGBP’s rate is down -5 pips (-0.06%) from the hour prior. This is the 3rd consecutive hour EURGBP has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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)
After 6 down days, EURGBP snaps its streak, rising 6 pips (0.07%) over the past day to close at an exchange rate of 0.85133. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 22nd in terms of percentage change since yesterday. Here is a price chart of EURGBP.
EURGBP Technical Analysis
The first thing we should note is that EURGBP is now close to its 20 and 50 day averages, located at 0.8568 and 0.8641 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 18 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.