EUR/GBP Down 0 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Nears 20 Day Moving Average

EUR/GBP 4 Hour Price Update

Updated May 12, 2020 12:56 AM GMT (08:56 PM EST)

The back and forth price flow continues for EUR/GBP, which started the current 4 hour candle off at 0.8765, down 0 pips 0% from the last 4 hour candle. Out of the 37 instruments in the Forex asset class, EUR/GBP ended up ranking 16th for the four-hour candle in terms of price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/GBP is up 5 pips (0.06%) since the day prior (opening today near 0.87641), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/GBP ranked 13th the day prior in terms of percentage price change. Below is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Notably, EUR/GBP is now close to its 20, 50, 100 and 200 day averages, located at 0.8745, 0.8851, 0.8682 and 0.8643 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 18.6 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 5 out of the past 10 days. And for candlestick traders, a special treat: there are doji and pin bar patterns showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 13 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 3.25, which is bullish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

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