EUR/GBP Down 11 Pips in Last 4 Hours, Entered Today Up For the 4th Day In A Row; Doji Pattern Appearing on Chart

EUR/GBP 4 Hour Price Update

Updated July 24, 2020 01:05 PM GMT (09:05 AM EST)

EUR/GBP is down 11 pips (0.12%) since the previous 4 hours (opening the current 4 hour candle near 0.9099), marking the 2nd candle in a row a decrease has occurred. Out of the 37 instruments in the Forex asset class, EUR/GBP ended up ranking 30th for the four-hour candle in terms of price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/GBP is up 8 pips (0.09%) since the day prior (opening today near 0.91081), marking the 4th day in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/GBP ranked 2nd the day prior in terms of percentage price change. Below is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Notably, 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 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days EUR/GBP’s price has gone up 10 them. Also, candlestick traders! Note we see doji pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 10 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 0.59, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a gartley technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURGBP rebounded from supply zone at level 0.9125 which corresponds to 78.6% Fibonacci levelMACD shows bearish momentumIt’s expected for coming bearish wave to first target HVN at level 0.9039then finally target demand zone at level 0.90000