EURGBP Down 4 Pips in Last Hour, Entered Today Up For the 3rd Day In A Row; Breaks Above 20 and 100 Day Averages
This is a reversal of the price action on the previous hour, in which price moved up.
EURGBP
(Last Updated January 23, 2021)
Hello! This is the news page for EURGBP. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for EURGBP
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Euro Area ECB President Lagarde Speech | NA | Euro | EUR | 2021-01-25 | 08:45 GMT | ||
| Euro Area ECB President Lagarde Speech | NA | Euro | EUR | 2021-01-25 | 16:00 GMT | ||
| United Kingdom Employment Change | Oct 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | -100K | |
| United Kingdom Average Earnings excl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 3.1% | |
| United Kingdom Average Earnings incl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 2.9% |
The Trend
On EURGBP, there is currently a downtrend on the 90, 30 and 14 day timeframes.
EURGBP Moving Averages
EURGBP’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
Regarding EURGBP’s correlations over the past 7 days, it has been most correlated with EURCAD. If we zoom out to a two week basis, though, GBPCHF is the asset most correlated to EURGBP. Alternatively, CHFJPY has been the asset least correlated with EURGBP — but if we observe the prior two weeks, the asset least correlated with EURGBP has been EURNZD. The chart below illustrates EURGBP against its least correlated assets.
.
The View From the Weekly Timeframe
At the moment, EURGBP’s rate is down -23 pips (-0.26%) from the week prior. EURGBP has seen its price go down 4 out of the past 5 weeks, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the weekly chart 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. The weekly chart below shows EURGBP’s price action over the past year.
EURGBP: The Monthly View
Monthly trend: strongest on the 60 month timeframe.
EURGBP Up 3 Pips On Hourly Chart, Outperforms All Forex; 3 Day Down Streak Ended
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.
EURGBP Up 3 Pips Over Past Hour, Tops All Forex; Breaks Above 50 and 200 Day Averages
This is the 2nd straight hour eurgbp has seen its price head up.
EURGBP Down 1 Pips On Hourly Chart, Fares the Worst Out of Forex; Moves Down For the 3rd Day In A Row
Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up.
EURGBP Down 11 Pips Over Past Hour, Underperforms All Forex; Breaks Below 50 and 200 Day Averages
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
EURGBP Down 4 Pips On Hourly Chart, Entered Today Down For the 2nd Straight Day; Breaks Below 20 and 100 Day Averages
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURGBP Up 1 Pips Over Past Hour, Nears 20 and 100 Day Moving Averages; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 16 out of the past 30 days.
EURGBP Up 2 Pips Over Past Hour, 2 Day Down Streak Ended; Breaks Above 20, 50 and 100 Day Averages
Price action traders may also wish to note that we see a pin bar candlestick pattern on eurgbp.
EURGBP Up 16 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; Crosses 50 Day Moving Average
This imputes a buy/sell ratio of 0.86, which is neutral.
EURGBP Down 3 Pips in Last Hour, Came Into Today Down For the 2nd Day In A Row; Crosses 50 Day Moving Average
The closest is the 50 day average, which is 12.1 pips away.