EURGBP Up 2 Pips in Last Hour, Entered Today Up For the 3rd Consecutive Day; Crosses 20 and 100 Day Moving Averages

Hourly Update

(Last Updated June 10, 2021 18:20 GMT)

Currently, EURGBP’s rate is up 2 pips (0.03%) 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 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 is up 28 pips (0.32%) since yesterday (opening today near 0.863), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, EURGBP ranked 4th yesterday in terms of percentage price change. Let’s take a look at price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURGBP crossed above its 20 and 100 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 100 day average, which is 5.6 pips away. It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone up 6 them.