EURGBP Up 1 Pips On Hourly Chart, Underperforms All Forex; Crosses 20 and 50 Day Moving Averages

Hourly Update

(Last Updated May 12, 2021 0:19 GMT)

At the time of this writing, EURGBP’s rate is up 1 pips (0.01%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. 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 82 pips (0.94%) since yesterday (opening today near 0.8593), marking the 2nd day in a row a decline has happened. On a relative basis, EURGBP was the worst performer out of all 39 of the assets in the Forex asset class. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

First things first: EURGBP crossed below its 20 and 50 day moving averages yesterday. 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 50 day average, which is 31.3 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days EURGBP’s price has gone up 18 them.