EURGBP Up 3 Pips Over Past Hour, Tops All Forex; Breaks Above 50 and 200 Day Averages

Hourly Update

(Last Updated January 5, 2021 2:18 GMT)

At the time of this writing, EURGBP’s rate is up 3 pips (0.04%) from the hour prior. This is the 2nd straight hour EURGBP has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Of note is that the 50 hour changed directions on EURGBP; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 0.90178, is up 74 pips 0.83% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. EURGBP outperformed all 40 assets in the Forex asset class yesterday. Congrats to its holders! Here is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURGBP crossed above its 50 and 200 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 12.4 pips away. 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 5 out of the past 10 days.