EUR/GBP Up 8 Pips Over Past 4 Hours; Nears 50 Day Moving Average

EUR/GBP 4 Hour Price Update

Updated May 14, 2020 09:09 AM GMT (05:09 AM EST)

EUR/GBP is up 8 pips (0.09%) since the last 4 hour candle (opening the current 4 hour candle near 0.8859), marking the 2nd candle in a row it has gone up. Relative to other instruments in the Forex asset class, EUR/GBP ranked 6th 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 0.88402, up 1 pips (0.01%) from yesterday. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 25th in terms of percentage change since yesterday. Here is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Notably, the current price of EUR/GBP is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 1.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 17 out of the past 30 days.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 10 buy signals on our radar and 19 sell signals. This imputes a buy/sell ratio of 0.53, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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