EUR/GBP 4 Hour Price Update
Updated June 29, 2020 09:10 PM GMT (05:10 PM EST)
EUR/GBP is down 12 pips (0.13%) since the previous 4 hours (opening the current 4 hour candle near 0.914), marking the 2nd candle in a row a decrease has occurred. Relative to other instruments in the Forex asset class, EUR/GBP ranked 31st the previous 4 hours in terms of percentage price change.
EUR/GBP End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/GBP is up 2 pips (0.02%) since the previous day (opening today near 0.90939), marking the 3rd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 26th for the day in terms of price change. Let’s take a look at price chart of EUR/GBP.
EUR/GBP Technical Analysis
Coming into today the current price of EUR/GBP is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days.
The View From Around the Web
Of note is that traders in aggregate have opinions on EURGBP, with 17 buy signals on our radar and 15 sell signals. This imputes a buy/sell ratio of 1.13, which is neutral. As for the rationale, technical traders seem to be citing the appearance of divergence and relative strength index technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
Strong flag formation on hourly timeframe breaking the resistances on the way up.EURGBP should be bought on dips above 0.9120 keeping 50 to 75 pips as tp and terminating the BUY trades near 0.9230.