EURGBP Up 1 Pips On Hourly Chart, Breaks Below 200 Day Average; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 23, 2020 2:17 GMT)

Currently, EURGBP’s rate is up 1 pips (0.01%) from the hour prior. This is the 2nd consecutive hour EURGBP has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURGBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURGBP entered today at 0.89186, down 30 pips (0.34%) from yesterday. Relative to other instruments in the Forex asset class, EURGBP ranked 36th yesterday in terms of percentage price change. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Notably, EURGBP crossed below its 200 day moving average yesterday. 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 23.5 pips away. 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 30 days EURGBP’s price has gone down 16 them.