EUR/GBP Heads Down For the 3rd Day In A Row

EUR/GBP Price Recap

EUR/GBP is down 38 pips (0.45%) since yesterday (with its current price near 0.83882), marking the 3rd day in a row it has gone down. This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 10.67% from the day before — and down 27.32% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/GBP ranked 34th yesterday in terms of percentage price change. Below is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Coming into today 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 down over that time. Or to simplify this another way, note that out of the past 14 days EUR/GBP’s price has gone down 8 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 24 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 2.67, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel, fibonacci and gartley technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Please wait to buy eg have golden pattern gartley pattern, candlestick pattern other