(Last Updated February 16, 2021 23:20 GMT)
At the time of this writing, GBPCAD’s rate is up 4 pips (0.02%) from the hour prior. This is the 2nd straight hour GBPCAD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)
The back and forth price flow continues for GBPCAD, which started today off at 1.758, down 0 pips 0% from the previous day. Compared to its peers in the Forex, GBPCAD gave its buyers a return that ranked 22nd in terms of percentage change since the previous day. The price chart of GBPCAD below illustrates.
GBPCAD Technical Analysis
Notably, GBPCAD is now close to its 20, 50, 100 and 200 day averages, located at 1.7486, 1.7335, 1.7273 and 1.7205 respectively, and thus may be at a key juncture along those timeframes. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.