EURGBP Down 2 Pips On Hourly Chart; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated February 25, 2021 0:20 GMT)

At the moment, EURGBP’s rate is down -2 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

EURGBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

EURGBP entered today at 0.86074, down 39 pips (0.45%) from the day prior. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 35th 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 day averages, located at 0.8742 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 down. Or to simplify this another way, note that out of the past 30 days EURGBP’s price has gone down 20 them.