(Last Updated April 5, 2021 2:18 GMT)
At the moment, EURGBP’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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)
The choppiness in the recent daily price action of EURGBP continues; to start today, it came in at a price of 0.851, up 7 pips (0.09%) since yesterday. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 4th for the day in terms of price change. Here is a price chart of EURGBP.
EURGBP Technical Analysis
Notably, EURGBP is now close to its 20 and 50 day averages, located at 0.8562 and 0.8628 respectively, and thus may be at a key juncture along those timeframes. 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 14 days EURGBP’s price has gone up 7 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on EURGBP, with 6 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 1.5, which is bullish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.
In early February, the Euro breached support which had confined its losses against the British Pound back to mid-May 2020, opening the door for a deep selloff that brought the EUR/GBP exchange rate…