For additional context, note that price has gone down 8 out of the past 14 days.
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.
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
This imputes a buy/sell ratio of 2.67, which is bullish.
Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on eurgbp.
This is a reversal of the price action on the previous hour, in which price moved up.
The closest is the 20 day average, which is 15.2 pips away.
Volatility for eurgbp has been contracting over the past two weeks relative to volatility over the past month.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
Relative to other instruments in the forex asset class, eurgbp ranked 30th the previous day in terms of percentage price change.