EUR/GBP Down 1 Pips On Hourly Chart; Moves Down For the 2nd Consecutive Day

Hourly Update

(Last Updated November 17, 2021 1:46 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. Regarding the trend, note that the strongest trend exists 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 is down 48 pips (0.56%) since the day prior (opening today near 0.84271), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, EURGBP ranked 35th the day prior in terms of percentage price change. Below is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Coming into today 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 6 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 5 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.67, which is bullish. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

A plethora of negative developments in recent days has been plaguing the Euro.