GBPCAD Up 3 Pips Over Past Hour, Moves Up For the 3rd Straight Day; in an Uptrend Over Past 90 Days

Hourly Update

(Last Updated September 10, 2021 2:19 GMT)

At the time of this writing, GBPCAD’s rate is up 3 pips (0.02%) from the hour prior. This is the 2nd straight hour GBPCAD has seen its price head 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 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 50 pips (0.29%) since the previous day (opening today near 1.75217), marking the 3rd straight day it has gone up. Out of the 39 instruments in the Forex asset class, GBPCAD ended up ranking 4th for the day in terms of price change. The price chart of GBPCAD below illustrates.

GBPCAD

GBPCAD Technical Analysis

The first thing we should note is that the current price of GBPCAD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 132.8 pips away. 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. For additional context, note that price has gone up 7 out of the past 14 days.