GBP/USD Down 10 Pips in Last Hour, 2 Day Up Streak Ended; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated April 22, 2022 1:47 GMT)

At the time of this writing, GBPUSD’s rate is down -10 pips (-0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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 entered today at 1.30294, down 39 pips (0.3%) from the previous day. Relative to other instruments in the Forex asset class, GBPUSD ranked 30th the previous day in terms of percentage price change. Here is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, the current price of GBPUSD is sitting close to its 20, 50 and 100 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 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!