(Last Updated December 1, 2021 1:41 GMT)
At the moment, EURGBP’s rate is down -4 pips (-0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 50 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 up 37 pips (0.44%) since the day prior (opening today near 0.85187), marking the 2nd straight day an upward move has occurred. Relative to other instruments in the Forex asset class, EURGBP ranked 7th the day prior in terms of percentage price change. The price chart of EURGBP below illustrates.
EURGBP Technical Analysis
Notably, EURGBP crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 19 out of the past 30 days.