EUR/GBP Down 3 Pips in Last Hour; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated May 13, 2022 1:39 GMT)

At the moment, EURGBP’s rate is down -3 pips (-0.04%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURGBP has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 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)

The back and forth price flow continues for EURGBP, which started today off at 0.85062, down 86 pips 1% from the previous day. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 28th in terms of percentage change since the previous day. Below is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

The first thing we should note is that the current price of EURGBP is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 200 day average, which is 70.7 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EURGBP’s price has gone up 8 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 3 buy signals on our radar and 4 sell signals. This imputes a buy/sell ratio of 0.75, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

with my strategy its buy after trigger the lower time frame , lets see .. EurGBP LONG : 200 pip profit or 100 loss , RR : 2