EUR/GBP Up 8 Pips Over Past 4 Hours, 2 Day Down Streak Snapped; is Inching Close to 20 Day Average

EUR/GBP 4 Hour Price Update

Updated July 02, 2020 01:16 AM GMT (09:16 PM EST)

After 4 down four-hour candles, EUR/GBP snaps its streak, rising 8 pips (0.09%) over the past four-hour candle to close at an exchange rate of 0.9026. EUR/GBP outperformed all 37 assets in the Forex asset class the previous 4 hours. Congrats to its holders!

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/GBP entered today at 0.90234, up 7 pips (0.08%) from the previous day. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 7th for the day in terms of price change. The price chart of EUR/GBP below illustrates.

EUR/GBP Technical Analysis

The first thing we should note is that 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 30 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EUR/GBP’s price has gone up 18 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 14 buy signals on our radar and 14 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

FIbo, previous zone touch multiple times, multi week zone also mais pas visible a cause du timeframe. Multi week trendline , UPTREND on short, mid and long term. Euro economy is greater than GBP + positionnement des institutions.