EURGBP Down 4 Pips in Last Hour, Entered Today Up For the 3rd Day In A Row; Breaks Above 20 and 100 Day Averages

Hourly Update

(Last Updated January 7, 2021 2:18 GMT)

At the time of this writing, EURGBP’s rate is down -4 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 37 pips (0.41%) since the previous day (opening today near 0.9055), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 12th in terms of percentage change since the previous day. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Notably, 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 20 day average, which is 6.1 pips away. For additional context, note that price has gone up 9 out of the past 14 days.