EUR/GBP Up 9 Pips in Last 4 Hours, 5 Day Up Streak Ended; in an Uptrend Over Past 14 Days

EUR/GBP 4 Hour Price Update

Updated July 27, 2020 09:09 PM GMT (05:09 PM EST)

The back and forth price flow continues for EUR/GBP, which started the current 4 hour candle off at 0.9128, up 9 pips 0.1% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, EUR/GBP ended up ranking 11th for the four-hour candle in terms of price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of EUR/GBP’s 5 day up streak; price ended the previous day down 4 pips (-0.05%) to finish the day at a rate of 0.91045. Relative to other instruments in the Forex asset class, EUR/GBP ranked 38th the previous day in terms of percentage price change. Let’s take a look at price chart of EUR/GBP.

EUR/GBP

EUR/GBP Technical Analysis

Coming into today EUR/GBP is now close to its 20, 50 and 100 day averages, located at 0.9045, 0.9012 and 0.8909 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 17 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.55, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, flag and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price broke out of ascending triangle. Expected to hit target