(Last Updated September 23, 2021 2:5 GMT)
At the moment, GBPUSD’s rate is down -3 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 is down 41 pips (0.3%) since yesterday (opening today near 1.36163), marking the 3rd consecutive day a decline has happened. Out of the 39 instruments in the Forex asset class, GBPUSD ended up ranking 33rd for the day in terms of price change. Below is a price chart of GBPUSD.
GBPUSD Technical Analysis
Notably, GBPUSD is now close to its 20, 50, 100 and 200 day averages, located at 1.3783, 1.3801, 1.3867 and 1.3885 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. For additional context, note that price has gone down 9 out of the past 14 days.