EUR/GBP Down 4 Pips On 4 Hour Chart, Came Into Today Up For the 2nd Day In A Row; in an Uptrend Over Past 30 Days

EUR/GBP 4 Hour Price Update

Updated May 21, 2020 12:46 AM GMT (08:46 PM EST)

A moment of silence, please, for the end of EUR/GBP’s 6 four-hour candle up streak; price ended the last 4 hour candle down 4 pips (-0.04%) to finish the four-hour candle at a rate of 0.8974. Out of the 37 instruments in the Forex asset class, EUR/GBP ended up ranking 27th for the four-hour candle in terms of price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/GBP is up 10 pips (0.11%) since yesterday (opening today near 0.89742), marking the 2nd day in a row an increase has occurred. Relative to other instruments in the Forex asset class, EUR/GBP ranked 5th yesterday in terms of percentage price change. Here is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Coming into today EUR/GBP is now close to its 20 and 50 day averages, located at 0.8819 and 0.8806 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 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days EUR/GBP’s price has gone up 15 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 17 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 2.43, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

And it made us a signal hit TP1 with 160 pips….On that signal, we open order at 0.877 and closed at 0.893….And now it is trying to retest the yellow zone on weekly chart.