EURGBP Down 1 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 4, 2021 3:17 GMT)

At the moment, EURGBP’s rate is down -1 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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, which opened today priced near 0.84809, is down 23 pips 0.27% since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. Relative to other instruments in the Forex asset class, EURGBP ranked 32nd the previous day in terms of percentage price change. Let’s take a look at price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

The first thing we should note is that EURGBP is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone up 5 them.