GBP/USD Down 0 Pips Over Past Hour; Came Into Today Down For the 5th Straight Day

Hourly Update

(Last Updated April 28, 2022 1:43 GMT)

At the moment, 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. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPUSD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 down 45 pips (0.36%) since the previous day (opening today near 1.25381), marking the 5th straight day a decline has happened. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBPUSD’s price has gone down 8 them.