EUR/GBP Up 1 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 5th Straight Day

Hourly Update

(Last Updated July 29, 2022 1:39 GMT)

At the time of this writing, EURGBP’s rate is up 1 pips (0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 down 13 pips (0.16%) since the day prior (opening today near 0.83726), marking the 5th straight day it has gone down. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Here is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Notably, EURGBP is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 65.2 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone down 7 them.