EUR/GBP Down 1 Pips On Hourly Chart, Breaks Above 100 Day Average; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated November 15, 2021 1:38 GMT)

At the time of this writing, EURGBP’s rate is down -1 pips (-0.02%) from the hour prior. EURGBP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURGBP. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 0.8529, up 1 pips (0.01%) from the day prior. Relative to other instruments in the Forex asset class, EURGBP ranked 26th the day prior in terms of percentage price change. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Notably, EURGBP crossed above its 100 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 10 out of the past 14 days. Also, candlestick traders! Note we see doji pattern appearing here as well.