EURGBP

(Last Updated July 8, 2020)

Hello! This is the news page for EURGBP. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on EURGBP, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 and 30 day timeframes. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

EURGBP Moving Averages

Nuances in the trend on EURGBP can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 100 are bullish, suggesting the trend is generally upward, save for a drop that occurred about 3 months ago. Moreover, today we saw the 100 moving average turn bearish.

Below is a chart showing EURGBP’s price with its moving averages.

In terms of correlations over the past week for EURGBP, it has demonstrated the strongest correlation with USDJPY. Over the past 14 days, however, the asset showing the strongest correlation to EURGBP is GBPUSD. On the flip side, the asset least correlated with EURGBP over the past week has been NZDJPY, but if we observe the prior two weeks, CADCHF has been the asset least correlated with EURGBP. See the chart below to observe the recent price action in EURGBP versus those of assets it hasn’t been well correlated with.

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