(Last Updated November 12, 2021 5:17 GMT)
At the moment, 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)
A moment of silence, please, for the end of EURGBP’s 3 day up streak; price ended the previous day down 31 pips (-0.36%) to finish the day at a rate of 0.85445. Out of the 39 instruments in the Forex asset class, EURGBP ended up ranking 32nd for the day in terms of price change. Here is a price chart of EURGBP.
EURGBP Technical Analysis
First things first: 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. For additional context, note that price has gone up 8 out of the past 14 days.