GBPCAD Down 2 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated January 15, 2021 3:21 GMT)

At the time of this writing, GBPCAD’s rate is down -2 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 down 22 pips (0.12%) since the day prior (opening today near 1.72858), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, GBPCAD gave its buyers a return that ranked 26th in terms of percentage change since the day prior. Here is a price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

Notably, GBPCAD crossed below its 20 day moving average yesterday. Volatility for GBPCAD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 7 them.