EUR/GBP Up 3 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 3rd Straight Day

Hourly Update

(Last Updated September 8, 2021 1:46 GMT)

At the time of this writing, EURGBP’s rate is up 3 pips (0.03%) from the hour prior. The hourly chart shows that EURGBP has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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 14 pips (0.17%) since the previous day (opening today near 0.85928), marking the 3rd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 19th for the day in terms of price change. Below is a price chart of EURGBP.

EURGBP

EURGBP Technical Analysis

Coming into today EURGBP is now close to its 20, 50, 100 and 200 day averages, located at 0.8566, 0.8545, 0.8569 and 0.8623 respectively, and thus may be at a key juncture along those timeframes. 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 100 day average, which is 23.8 pips away. It should be noted, though, the 50 and 100 day simple moving averages turned upwards, which may be a bullish sign. Volatility for EURGBP 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 8 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for EURGBP; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Entry details are shown on the chart.Working the H1 time frame on this strategy.We’re only looking for TP3.Trade history can be seen below this trade idea too for full transparency.——————————————I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.Jumping on random trade ideas ‘willy-nilly’ on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.——————————————Please hit the 👍 LIKE button if you like my ideas🙏Also follow my profile, then you will receive a notification whenever I post a trading idea – so you don’t miss them. 🙌No one likes missing out, do they?Also, see my ‘related ideas’ below to see more just like this.The stats for this pair are shown below too.Thank you.Darren.