GBPUSD Up 12 Pips On Hourly Chart, Came Into Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 18:20 GMT)

At the moment, GBPUSD’s rate is up 12 pips (0.09%) from the hour prior. The hourly chart shows that GBPUSD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend 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.

GBPUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPUSD is up 1 pips (0.01%) since yesterday (opening today near 1.34147), marking the 2nd consecutive day it has gone up. Relative to other instruments in the Forex asset class, GBPUSD ranked 27th yesterday in terms of percentage price change. The price chart of GBPUSD below illustrates.

GBPUSD

GBPUSD Technical Analysis

Notably, GBPUSD is now close to its 20, 50 and 100 day averages, located at 1.3607, 1.3633 and 1.372 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBPUSD’s price has gone down 17 them.