GBPCAD Up 3 Pips in Last Hour, Moves Down For the 3rd Straight Day; Breaks Below 200 Day Average

Hourly Update

(Last Updated September 30, 2021 2:19 GMT)

At the time of this writing, GBPCAD’s rate is up 3 pips (0.02%) from the hour prior. GBPCAD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly 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.

GBPCAD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPCAD is down 72 pips (0.41%) since the day prior (opening today near 1.73034), marking the 3rd straight day a decline has happened. Compared to its peers in the Forex, GBPCAD gave its buyers a return that ranked 32nd in terms of percentage change since the day prior. Below is a price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

Notably, GBPCAD crossed below its 200 day moving average yesterday. 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. The closest is the 200 day average, which is 27.6 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPCAD’s price has gone up 8 them.