GBPUSD Up 8 Pips in Last Hour, Moves Down For the 2nd Straight Day; Crosses 20 Day Moving Average

Hourly Update

(Last Updated March 5, 2021 23:21 GMT)

At the time of this writing, GBPUSD’s rate is up 8 pips (0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. 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 bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

GBPUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPUSD is down 38 pips (0.27%) since the previous day (opening today near 1.3894), marking the 2nd straight day a decrease has occurred. 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. Here is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, GBPUSD crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 14 days.