EURGBP Down 0 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Nears 20 Day Moving Average
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURGBP
(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:
Forex Calendar for EURGBP
| 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 |
The Trend
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.
EURGBP Moving Averages
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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The View From the Weekly Timeframe
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.
EURGBP: The Monthly View
Clearest trend on the monthly is apparent at the 120 month timeframe.
EURGBP Up 2 Pips On Hourly Chart, Eyes 20 Day Average; Pin Bar Pattern Appearing on Chart
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
EURGBP Down 0 Pips in Last Hour, Makes Big Move Relative to Past Month; in a Downtrend Over Past 14 Days
Compared to its peers in the forex, eurgbp gave its buyers a return that ranked 17th in terms of percentage change since yesterday.
EURGBP Down 4 Pips Over Past Hour, 3 Day Down Streak Snapped; Nears 20 and 50 Day Moving Averages
For additional context, note that price has gone down 8 out of the past 14 days.
EURGBP Down 2 Pips On Hourly Chart, 3 Day Down Streak Snapped; Pin Bar Pattern Appearing on Chart
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
EURGBP Down 4 Pips On Hourly Chart, Came Into Today Down For the 3rd Consecutive Day; Eyes 20 and 50 Day Averages
For additional context, note that price has gone down 18 out of the past 30 days.
EURGBP Down 0 Pips Over Past Hour, Breaks Below 20 Day Average; Price Base in Formation Over Past 90 Days
Relative to other instruments in the forex asset class, eurgbp ranked 33rd the day prior in terms of percentage price change.
EURGBP Up 1 Pips in Last Hour, 2 Day Down Streak Ended; is Inching Close to 20, 50 and 100 Day Averages
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
EURGBP Down 5 Pips On Hourly Chart, Came Into Today Down For the 2nd Straight Day; is Inching Close to 20, 50 and 100 Day Averages
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
EURGBP Down 2 Pips On Hourly Chart, 2 Day Up Streak Ended; Price Base in Formation Over Past 90 Days
Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.