(Last Updated July 19, 2021 6:16 GMT)
At the moment, EURGBP’s rate is up 2 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on EURGBP. Given that we see an uptrend on the 20 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 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)
EURGBP is up 8 pips (0.09%) since the day prior (opening today near 0.85829), marking the 4th consecutive day it has gone up. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 19th for the day in terms of price change. Here is a price chart of EURGBP.
EURGBP Technical Analysis
Notably, EURGBP is now close to its 20, 50, 100 and 200 day averages, located at 0.8568, 0.8584, 0.8606 and 0.8726 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days EURGBP’s price has gone up 6 them.