GBP/USD Down 13 Pips in Last Hour, Came Into Today Down For the 2nd Day In A Row; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated May 9, 2022 1:41 GMT)

At the time of this writing, GBPUSD’s rate is down -13 pips (-0.1%) 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 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 down 29 pips (0.23%) since yesterday (opening today near 1.23362), marking the 2nd day in a row it has gone down. Relative to other instruments in the Forex asset class, GBPUSD ranked 36th yesterday in terms of percentage price change. Here is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

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. Or to simplify this another way, note that out of the past 14 days GBPUSD’s price has gone down 10 them.