(Last Updated April 15, 2021)
Welcome to the news page for EURGBP (EURGBP). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United Kingdom BoE Credit Conditions Survey | NA | British Pound | GBP | 2021-04-15 | 08:30 GMT | ||
| Euro Area Eurogroup Video Conference | NA | Euro | EUR | 2021-04-16 | 08:00 GMT | ||
| Euro Area Core Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 0.9% | |
| Euro Area Inflation Rate YoY Final | Mar 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT | 1.3% | |
| Euro Area Balance of Trade | Feb 2021 | Euro | EUR | 2021-04-16 | 09:00 GMT |
A trend/countertrend situation exists on EURGBP, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
The moving averages on EURGBP summarize its price action in an interesting way. Of the 20, 50, 100, and 200 day averages — three of them (all but the 20) — are bearish, suggesting the trend is generally downward, save for a spike that occurred about 3 weeks ago.
Below is a chart showing EURGBP’s price with its moving averages.
As for assets in the Forex asset class EURGBP has been correlated to over the past week, it has demonstrated the strongest correlation with GBPJPY. If we zoom out to a two week basis, though, GBPCHF is the asset most correlated to EURGBP. On the flip side, NZDUSD has been the asset least correlated with EURGBP — but over the past two weeks, the asset least correlated with EURGBP has been USDCAD. The chart below illustrates EURGBP against its least correlated assets.
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At the time of this writing, EURGBP’s rate is up 15 pips (0.17%) from the week prior. Moreover, note that this is the 2nd consecutive week EURGBP has seen its price head up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
Clearest trend on the monthly is apparent at the 120 month timeframe.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
This imputes a buy/sell ratio of 3, which is bullish.
Compared to its peers in the forex, eurgbp gave its buyers a return that ranked 14th in terms of percentage change since the day prior.
This move is a reversal from the hour prior, which saw price move down.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
This is a reversal of the price action on the previous hour, in which price moved up.