EURGBP Up 2 Pips in Last Hour; Crosses 50 and 100 Day Moving Averages
This is the 2nd hour in a row eurgbp has seen its price head up.
EURGBP
(Last Updated October 28, 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
A trend/countertrend situation exists on EURGBP, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
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.
Below is a chart showing EURGBP’s price with its moving averages.
In terms of correlations over the past week for EURGBP, it has demonstrated the strongest correlation with GBPCHF. EURGBP has been most correlated with GBPCHF over the past 14 days also, so this may be a recurring pattern. On the flip side, EURTRY has been the asset least correlated with EURGBP — but over the past two weeks, the asset least correlated with EURGBP has been EURCHF. The chart below illustrates EURGBP against its least correlated assets.
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The View From the Weekly Timeframe
Currently, EURGBP’s rate is down -0.0049 (-0.53%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. Regarding moving averages, it should first be noted that price has crossed the 20 week moving average, resulting in them so that price is now turning below it. 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. 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 Down 5 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Price Base in Formation Over Past 30 Days
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURGBP Up 1 Pips in Last Hour, 4 Day Down Streak Broken; Breaks Above 50 Day Average
Given that we see an uptrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
EURGBP Up 2 Pips in Last Hour, Came Into Today Down For the 4th Day In A Row; Crosses 50 Day Moving Average
This move is a reversal from the hour prior, which saw price move down.
EURGBP Down 0 Pips On Hourly Chart, Came Into Today Down For the 3rd Day In A Row; Nears 50 and 100 Day Moving Averages
Compared to its peers in the forex, eurgbp gave its buyers a return that ranked 22nd in terms of percentage change since the day prior.
EURGBP Down 6 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
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.
EURGBP Down 3 Pips in Last Hour, 2 Day Up Streak Broken; Eyes 20 Day Average
Compared to its peers in the forex, eurgbp gave its buyers a return that ranked 23rd in terms of percentage change since yesterday.
EURGBP Down 27 Pips in Last Hour; Nears 50 Day Moving Average
Volatility for eurgbp has been contracting over the past two weeks relative to volatility over the past month.
EUR/GBP Up 2 Pips in Last Hour, in an Uptrend Over Past 30 Days; Eyes 50 and 100 Day Averages
Volatility for eurgbp has been contracting over the past two weeks relative to volatility over the past month.
EURGBP Up 1 Pips On Hourly Chart; Nears 50 Day Moving Average
Relative to other instruments in the forex asset class, eurgbp ranked 17th the previous day in terms of percentage price change.