EUR/GBP Up 66 Pips, Breaks Above 20 Day Average; in a Downtrend Over Past 30 Days

EUR/GBP Price Recap

The choppiness in the recent daily price action of EUR/GBP continues; to start today, it comes in at a price of 0.84327 US dollars, up 66 pips (0.79%) since yesterday. The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 15.93% from the day prior, and up 158.42% from the same day the week before. Relative to other instruments in the Forex asset class, EUR/GBP ranked 3rd yesterday in terms of percentage price change. Below is a price chart of EUR/GBP.

EUR/GBP Technical Analysis

Notably, EUR/GBP crossed above its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 5 out of the past 10 days.