EUR/GBP Down 20 Pips On 4 Hour Chart, 3 Day Up Streak Snapped; in an Uptrend Over Past 14 Days

EUR/GBP 4 Hour Price Update

Updated May 19, 2020 05:15 PM GMT (01:15 PM EST)

The choppiness in the recent four-hour candle price action of EUR/GBP continues; to start the current 4 hour candle, it came in at a price of 0.8927, down 20 pips (0.22%) since the previous 4 hours. Relative to other instruments in the Forex asset class, EUR/GBP ranked 31st the previous 4 hours in terms of percentage price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 3 up days, EUR/GBP snaps its streak, falling 2 pips (-0.02%) over the past day to close at an exchange rate of 0.89477. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 33rd for the day in terms of 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 and 50 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 131.2 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 up. For additional context, note that price has gone up 5 out of the past 10 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 18 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.95, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel, flag, gartley and trendline technical patterns. Here’s a piece we found on that we thought you might enjoy.