GBP/CAD Up 6 Pips Over Past Hour, Entered Today Up For the 5th Consecutive Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated December 16, 2021 1:42 GMT)

At the time of this writing, GBPCAD’s rate is up 6 pips (0.04%) from the hour prior. The hourly chart shows that GBPCAD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 9 pips (0.05%) since the previous day (opening today near 1.7027), marking the 5th consecutive day an increase has occurred. Relative to other instruments in the Forex asset class, GBPCAD ranked 24th the previous day in terms of percentage price change. Here is a price chart of GBPCAD.

GBPCAD

GBPCAD Technical Analysis

Notably, 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. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 6 out of the past 10 days.