EURGBP

(Last Updated January 18, 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 Eurogroup Video Conference NA Euro EUR 2021-01-18 08:00 GMT
Euro Area ECB President Lagarde Speech NA Euro EUR 2021-01-18 08:00 GMT
European Union New Car Registrations YoY Dec 2020 Euro EUR 2021-01-19 07:00 GMT
Euro Area Construction Output YoY Nov 2020 Euro EUR 2021-01-19 10:00 GMT
Euro Area ZEW Economic Sentiment Index Jan 2021 Euro EUR 2021-01-19 10:00 GMT

The Trend

On EURGBP, there is currently a downtrend on the 90, 30 and 14 day timeframes.

EURGBP Moving Averages

Nuances in the trend on EURGBP can be understood by observing the behavior of its moving averages. Out of the moving averages we’re monitoring (20, 50, 100, and 200 days), all but the 200 are bearish, implying a downward trend, aside from a jump about 6 months prior.

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

In terms of correlations over the past week for EURGBP, it has been most correlated with GBPCHF. GBPCHF is the asset with which EURGBP has been most correlated with over the past two weeks as well, so this may be a structural correlation in the market. On the flip side, USDCNH has been the asset least correlated with EURGBP — but over the past two weeks, GBPAUD has been the asset least correlated with EURGBP. See the chart below to observe the recent price action in EURGBP versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

Currently, EURGBP’s rate is down -129 pips (-1.44%) 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. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. 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 60 month timeframe.

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