(Last Updated June 9, 2021 20:19 GMT)
Currently, EURGBP’s rate is up 1 pips (0.01%) from the hour prior. This is the 3rd hour in a row EURGBP has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
EURGBP End of Day Recap
Updated 00:30 GMT (04:30 EST)
EURGBP is up 4 pips (0.04%) since the day prior (opening today near 0.86025), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EURGBP ranked 13th the day prior in terms of percentage price change. The price chart of EURGBP below illustrates.
EURGBP Technical Analysis
Notably, EURGBP is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 7.3 pips away. For additional context, note that price has gone up 6 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.