EUR/GBP 4 Hour Price Update
Updated July 24, 2020 09:06 PM GMT (05:06 PM EST)
After 3 down four-hour candles, EUR/GBP snaps its streak, rising 7 pips (0.08%) over the past four-hour candle to close at an exchange rate of 0.9104. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 12th in terms of percentage change since the previous 4 hours.
EUR/GBP End of Day Recap
Updated 00:30 GMT (04:30 EST)
EUR/GBP is up 8 pips (0.09%) since yesterday (opening today near 0.91081), marking the 4th day in a row it has gone up. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 2nd for the day in terms of price change. Below is a price chart of EUR/GBP.
EUR/GBP Technical Analysis
The first thing we should note is that EUR/GBP is now close to its 20, 50 and 100 day averages, located at 0.9035, 0.9008 and 0.8904 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days EUR/GBP’s price has gone up 10 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!
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 13 sell signals. This imputes a buy/sell ratio of 0.92, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a gartley technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
EURGBP rebounded from supply zone at level 0.9125 which corresponds to 78.6% Fibonacci levelMACD shows bearish momentumIt’s expected for coming bearish wave to first target HVN at level 0.9039then finally target demand zone at level 0.90000