GBP/USD Down 7 Pips On Hourly Chart, 2 Day Up Streak Broken; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated June 23, 2022 1:42 GMT)

At the moment, GBPUSD’s rate is down -7 pips (-0.06%) from the hour prior. This is the 2nd consecutive hour GBPUSD has seen its price head down. Regarding the trend, note that the strongest trend 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)

The back and forth price flow continues for GBPUSD, which started today off at 1.22508, down 13 pips 0.1% from the previous day. Out of the 39 instruments in the Forex asset class, GBPUSD ended up ranking 22nd for the day in terms of price change. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Coming into today GBPUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBPUSD’s price has gone down 6 them.