(Last Updated November 19, 2021 1:44 GMT)
At the time of this writing, GBPUSD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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.
GBPUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPUSD is up 7 pips (0.05%) since the day prior (opening today near 1.34976), marking the 3rd consecutive day an upward move has occurred. Relative to other instruments in the Forex asset class, GBPUSD ranked 25th the day prior in terms of percentage price change. The price chart of GBPUSD below illustrates.
GBPUSD Technical Analysis
Notably, the current price of GBPUSD 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 30 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.