EUR/GBP Down 4 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Eyes 20 Day Average

Hourly Update

(Last Updated June 17, 2022 1:39 GMT)

At the time of this writing, EURGBP’s rate is down -4 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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)

EURGBP is down 54 pips (0.63%) since the day prior (opening today near 0.85389), marking the 2nd day in a row it has gone down. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 30th for the day in terms of price change. Here 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 20 day average, which is 6.3 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone up 5 them.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 7 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 2.33, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Result of EURGBPStay and Follow With Me To Get Nice Setups And Enjoy My Analysis