(Last Updated January 6, 2021 2:21 GMT)
Currently, GBPUSD’s rate is up 11 pips (0.08%) from the hour prior. The hourly chart shows that GBPUSD has seen 2 straight up hours. 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 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)
GBPUSD, which opened today priced near 1.35644, is down 92 pips 0.67% since the day prior, marking a reversal from the day prior — and the end of a 3 day positive run. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 34th in terms of percentage change since the day prior. Below is a price chart of GBPUSD.
GBPUSD Technical Analysis
Coming into today the current price of GBPUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days.