EUR/GBP Up 7 Pips in Last 4 Hours, Eyes 20 and 50 Day Averages; Doji and Pin Bar Patterns Appearing on Chart

EUR/GBP 4 Hour Price Update

Updated July 31, 2020 05:10 AM GMT (01:10 AM EST)

EUR/GBP is up 7 pips (0.08%) since the last 4 hour candle (opening the current 4 hour candle near 0.9059), marking the 3rd candle in a row an increase has occurred. Compared to its peers in the Forex, EUR/GBP gave its buyers a return that ranked 13th in terms of percentage change since the last 4 hour candle.

EUR/GBP End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for EUR/GBP, which started today off at 0.90509, up 5 pips 0.05% from the day prior. Out of the 40 instruments in the Forex asset class, EUR/GBP ended up ranking 19th for the day in terms of price change. Below is a price chart of EUR/GBP.

EUR/GBP

EUR/GBP Technical Analysis

Coming into today EUR/GBP is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days EUR/GBP’s price has gone up 18 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on EURGBP, with 17 buy signals on our radar and 17 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern. Here’s a piece we found on dailyfx.com; below is a short snippet from it to give you a taste.

The high flying Euro weakened today after the German economy recorded the sharpest decline ever recorded. EURGBP moving towards trendline support.