EURGBP Down 3 Pips On Hourly Chart, Makes Big Move Relative to Past Month; Entered Today Up For the 3rd Day In A Row

Hourly Update

(Last Updated April 9, 2021 3:18 GMT)

At the time of this writing, EURGBP’s rate is down -3 pips (-0.03%) from the hour prior. EURGBP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURGBP. Given that we see an uptrend 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

EURGBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURGBP is up 35 pips (0.41%) since the day prior (opening today near 0.86752), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, EURGBP ranked 3rd the day prior in terms of percentage price change. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Coming into today the current price of EURGBP 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 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days.