(Last Updated February 22, 2021 23:20 GMT)
At the moment, GBPCAD’s rate is up 2 pips (0.01%) from the hour prior. The hourly chart shows that GBPCAD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on GBPCAD; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPCAD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPCAD entered today at 1.76711, down 41 pips (0.23%) from yesterday. Relative to other instruments in the Forex asset class, GBPCAD ranked 27th yesterday in terms of percentage price change. Let’s take a look at price chart of GBPCAD.
GBPCAD Technical Analysis
The first thing we should note is that GBPCAD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days GBPCAD’s price has gone up 5 them.