(Last Updated January 25, 2021 23:21 GMT)
At the time of this writing, GBPUSD’s rate is up 13 pips (0.09%) from the hour prior. This is the 2nd consecutive hour GBPUSD has seen its price head up. 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 choppiness in price, as the 20, 50, 100 and 200 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)
The choppiness in the recent daily price action of GBPUSD continues; to start today, it came in at a price of 1.36886, up 8 pips (0.06%) since yesterday. Out of the 39 instruments in the Forex asset class, GBPUSD ended up ranking 22nd for the day in terms of price change. Here 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 1.3622 and 1.3487 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days. Also, candlestick traders! Note we see doji pattern appearing here as well.