GBPCAD Up 4 Pips On Hourly Chart, Moves Up For the 2nd Consecutive Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated February 25, 2021 0:22 GMT)

At the time of this writing, GBPCAD’s rate is up 4 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPCAD has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 up 26 pips (0.15%) since the previous day (opening today near 1.7771), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, GBPCAD gave its buyers a return that ranked 20th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

Coming into today GBPCAD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPCAD’s price has gone up 16 them.