(Last Updated April 7, 2020)
Hello! This is the news page for EURGBP. Below you’ll find our daily market updates. Here’s a summary of where things currently stand:
The Latest News On Trends by Moving Averages
Here is what the moving averages are indicating about the trend in the rate of EURGBP:
20 Day Moving Average Direction: bearish
50 Day Moving Average Direction: bullish
100 Day Moving Average Direction: bullish
200 Day Moving Average Direction: bearish
How the Current EURGBP Rate Fares Relative to the Past Year?
The previous trading day saw EURGBP close at a rate of 0.8826. That means that relative to the past year, the rate of EURGBP is now closer to its 52 week low (0.82758) than its 52 week high (currently at 0.95028).To dig deeper and get the latest news on EURGBP, try the links below. You can also visit the MarketWatch or Investing.com pages on EURGBP for more news as well.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
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.
Compared to its peers in the forex, eur/gbp gave its buyers a return that ranked 13th in terms of percentage change since yesterday.
The closest is the 20 day average, which is 159.2 pips away.
Following a large push to the upside last week, we now have a retracement to a level which is lining up with a pretty sweet fib level….
As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern.
It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign.
