EUR/GBP Up 2 Pips On 4 Hour Chart; Pin Bar Pattern Appearing on Chart

EUR/GBP 4 Hour Price Update

Updated May 25, 2020 09:08 PM GMT (05:08 PM EST)

The back and forth price flow continues for EUR/GBP, which started the current 4 hour candle off at 0.8934, up 2 pips 0.02% from the last 4 hour candle. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 13th in terms of percentage change since the last 4 hour candle.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/GBP, which started today off at 0.89513, down 7 pips 0.07% from the previous day. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 36th 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 EUR/GBP is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 down 15 them. 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

We’re seeing some traders come out with interesting conviction on EURGBP, with 14 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.82, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

FX:EURGBP BUYReasons:Bullish Trend50 on FibMarkets is in a consolidating phaseNeeds to form Higher HighBullish StructureJoin our Free Signals Group:https://t.me/PipsTechnical85% accurate Signals