(Last Updated May 28, 2021 1:19 GMT)
At the time of this writing, EURGBP’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on EURGBP. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
After 3 up days, EURGBP snaps its streak, falling 26 pips (-0.31%) over the past day to close at an exchange rate of 0.86348. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Here is a price chart of EURGBP.
EURGBP Technical Analysis
Moving average crossovers are always interesting, so let’s start there: EURGBP crossed below its 100 day moving average yesterday. Volatility for EURGBP has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 14 day timeframe. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 17 out of the past 30 days.