(Last Updated March 31, 2021 0:19 GMT)
At the moment, EURGBP’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on EURGBP. Given that we see downtrend on the 10 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 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)
EURGBP is down 2 pips (0.02%) since the day prior (opening today near 0.85457), marking the 4th consecutive day a decline has happened. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 22nd in terms of percentage change since the day prior. Let’s take a look at price chart of EURGBP.
EURGBP Technical Analysis
The first thing we should note is that EURGBP is now close to its 20 and 50 day averages, located at 0.8578 and 0.866 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 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.