EUR/GBP Up 10 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; Nears 20 Day Moving Average

EUR/GBP 4 Hour Price Update

Updated July 29, 2020 01:14 AM GMT (09:14 PM EST)

EUR/GBP entered the current 4 hour candle at 0.9066, up 10 pips (0.11%) from the last 4 hour candle. Relative to other instruments in the Forex asset class, EUR/GBP ranked 3rd the last 4 hour candle in terms of percentage price change.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/GBP, which started today off at 0.90678, up 9 pips 0.1% from yesterday. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 11th in terms of percentage change since yesterday. Here is a price chart of EUR/GBP.


EUR/GBP Technical Analysis

Notably, EUR/GBP is now close to its 20, 50 and 100 day averages, located at 0.9049, 0.9017 and 0.8915 respectively, and thus may be at a key juncture along those timeframes. Volatility for EUR/GBP has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 11 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.