(Last Updated February 11, 2021 1:22 GMT)
At the moment, EURGBP’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on EURGBP. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 entered today at 0.87712, up 1 pips (0.01%) from the day prior. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 16th in terms of percentage change since the day prior. Let’s take a look at price chart of EURGBP.
EURGBP Technical Analysis
Notably, EURGBP is now close to its 20, 50 and 100 day averages, located at 0.8835, 0.8946 and 0.8976 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 9 out of the past 14 days.