EURGBP Up 5 Pips On Hourly Chart, 3 Day Up Streak Broken; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 11, 2021 3:17 GMT)

Currently, EURGBP’s rate is up 5 pips (0.06%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as EURGBP has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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)

After 3 up days, EURGBP snaps its streak, falling 31 pips (-0.36%) over the past day to close at an exchange rate of 0.85445. Compared to its peers in the Forex, EURGBP gave its buyers a return that ranked 31st in terms of percentage change since yesterday. The price chart of EURGBP below illustrates.

EURGBP

EURGBP Technical Analysis

Moving average crossovers are always interesting, so let’s start there: EURGBP crossed below its 200 day moving average yesterday. 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 30 days EURGBP’s price has gone down 18 them.