EUR/GBP Down 2 Pips in Last 4 Hours, in a Downtrend Over Past 14 Days; is Inching Close to 50 Day Average

EUR/GBP 4 Hour Price Update

Updated April 09, 2020 01:10 AM GMT (09:10 PM EST)

EUR/GBP entered the current 4 hour candle at 0.8765, down 2 pips (0.02%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/GBP ranked 27th the last 4 hour candle in terms of percentage price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EUR/GBP entered today at 0.8764, up 5 pips (0.05%) from the previous day. Relative to other instruments in the Forex asset class, EUR/GBP ranked 25th the previous day 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, 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 50 day average, which is 14.9 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone down 8 out of the past 14 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on EURGBP, with 12 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.2, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel, fibonacci and triangle technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

– Rompimiento de tendencia bajista,- Respeto en el nivel 88 del Fibonacci.- Respeto de doble piso- Divergencia notable en cambio de tendencia.MUCHAS BENDICIONES Y MUCHOS PIPS A SUS VIDAS