(Last Updated February 15, 2021 23:21 GMT)
At the moment, GBPUSD’s rate is down -4 pips (-0.03%) 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 20 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPUSD is up 13 pips (0.1%) since the previous day (opening today near 1.38693), marking the 2nd consecutive day an upward move has occurred. Out of the 39 instruments in the Forex asset class, GBPUSD ended up ranking 15th for the day in terms of price change. Below is a price chart of GBPUSD.
GBPUSD Technical Analysis
Coming into today GBPUSD is now close to its 20 and 50 day averages, located at 1.3734 and 1.3615 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 up over that time. Or to simplify this another way, note that out of the past 30 days GBPUSD’s price has gone up 17 them.