GBP/USD Down 11 Pips in Last Hour, Came Into Today Up For the 2nd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 22, 2022 1:44 GMT)

Currently, GBPUSD’s rate is down -11 pips (-0.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPUSD has now gone down 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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.

GBPUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPUSD is up 13 pips (0.11%) since the previous day (opening today near 1.22634), marking the 2nd straight day an increase has occurred. Relative to other instruments in the Forex asset class, GBPUSD ranked 19th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, GBPUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 up 17 out of the past 30 days.