EURGBP

(Last Updated August 6, 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 day timeframe. As such, traders with short positions should be aware of the uptrend in place on the longer timeframes.

EURGBP Moving Averages

EURGBP’s moving averages tell a multi-facted story about its trend. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 20 are bullish, implying a upward trend, save for a fall that occurred about 3 weeks ago. Moreover, today we saw the 20 moving average turn bearish.

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

Regarding EURGBP’s correlations over the past 7 days, it has demonstrated the strongest correlation with AUDUSD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to EURGBP is GBPCHF. Alternatively, EURJPY has been the asset least correlated with EURGBP — but over the past two weeks, the asset least correlated with EURGBP has been AUDJPY. The chart below illustrates EURGBP against its least correlated assets.

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The View From the Weekly Timeframe

At the moment, EURGBP’s rate is up 0.0045 (0.5%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. 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 bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. EURGBP’s weekly price action over the past 52 weeks can be seen via the chart below.