(Last Updated April 6, 2021 2:18 GMT)
At the moment, EURGBP’s rate is up 2 pips (0.02%) from the hour prior. The hourly chart shows that EURGBP has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)
The choppiness in the recent daily price action of EURGBP continues; to start today, it came in at a price of 0.84937, down 16 pips (0.19%) since the previous day. Relative to other instruments in the Forex asset class, EURGBP ranked 29th the previous day in terms of percentage price change. The price chart of EURGBP below illustrates.
EURGBP Technical Analysis
Coming into today EURGBP is now close to its 20 and 50 day averages, located at 0.8557 and 0.8623 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. Or to simplify this another way, note that out of the past 14 days EURGBP’s price has gone down 8 them.