EURGBP Up 2 Pips Over Past Hour, Came Into Today Down For the 3rd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated October 15, 2021 23:16 GMT)

At the time of this writing, EURGBP’s rate is up 2 pips (0.02%) from the hour prior. EURGBP has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 5 pips (0.06%) since the day prior (opening today near 0.8479), marking the 3rd consecutive day a decrease has occurred. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 25th in terms of percentage change since the day prior. Let’s take a look at price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Notably, the current price of EURGBP is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 59.5 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone down 8 them.