GBP/CAD Up 22 Pips in Last Hour; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated July 15, 2022 1:44 GMT)

At the moment, GBPCAD’s rate is up 22 pips (0.14%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 entered today at 1.5512, up 91 pips (0.59%) from the previous day. Relative to other instruments in the Forex asset class, GBPCAD ranked 14th the previous day in terms of percentage price change. Below is a price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

The first thing we should note is that 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 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 9 out of the past 14 days.