GBPCAD Down 3 Pips Over Past Hour; 2 Day Down Streak Snapped

Hourly Update

(Last Updated February 11, 2021 1:25 GMT)

Currently, GBPCAD’s rate is down -3 pips (-0.02%) from the hour prior. The hourly chart shows that GBPCAD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them so that price is now turning below it. 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)

GBPCAD entered today at 1.75357, up 31 pips (0.18%) from yesterday. Out of the 39 instruments in the Forex asset class, GBPCAD ended up ranking 11th for the day in terms of price change. Below is a price chart of GBPCAD.

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. 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 5 out of the past 10 days.