EURGBP Up 4 Pips Over Past Hour, Tops All Forex; Makes Big Move Relative to Past Month

Hourly Update

(Last Updated April 7, 2021 3:18 GMT)

At the moment, EURGBP’s rate is up 4 pips (0.04%) from the hour prior. EURGBP has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 20, 50, 100 and 200 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 entered today at 0.85862, up 93 pips (1.09%) from the day prior. EURGBP outperformed all 39 assets in the Forex asset class the day prior. Congrats to its holders! Below is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Notably, EURGBP crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days EURGBP’s price has gone down 18 them.