EUR/GBP Down 2 Pips On 4 Hour Chart, in an Uptrend Over Past 90 Days; Eyes 50 Day Average

EUR/GBP 4 Hour Price Update

Updated August 03, 2020 05:12 AM GMT (01:12 AM EST)

EUR/GBP is down 2 pips (0.02%) since the previous 4 hours (opening the current 4 hour candle near 0.8992), marking the 3rd candle in a row a decline has happened. Relative to other instruments in the Forex asset class, EUR/GBP ranked 20th the previous 4 hours 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 0.8999, down 2 pips 0.02% from the previous day. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 30th in terms of percentage change since the previous day. Let’s take a look at price chart of EUR/GBP.

EUR/GBP

EUR/GBP Technical Analysis

Notably, the current price of EUR/GBP is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days EUR/GBP’s price has gone up 6 them.

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 25 sell signals. This imputes a buy/sell ratio of 0.48, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

EURGBP BUY IDEA THIS WEEKHigher TF BiasPrice Action Support LevelsTrendLinePrice is choppy but in overall uptrend, however respecting CTLWould like to see price travel to maybe 0.90600 level