EURGBP Up 5 Pips in Last Hour, Moves Down For the 4th Straight Day; Nears 20 and 100 Day Moving Averages

Hourly Update

(Last Updated June 7, 2021 3:18 GMT)

At the time of this writing, EURGBP’s rate is up 5 pips (0.06%) from the hour prior. This is the 2nd consecutive hour EURGBP has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being above it. 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 1 pips (0.01%) since the day prior (opening today near 0.85903), marking the 4th straight day a decrease has occurred. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 19th in terms of percentage change since the day prior. Below is a price chart of EURGBP.

EURGBP

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 20.8 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone down 6 them.