(Last Updated September 22, 2022 1:41 GMT)
At the moment, GBPUSD’s rate is down -9 pips (-0.08%) from the hour prior. GBPUSD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. 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 127 pips (1.11%) since yesterday (opening today near 1.12536), marking the 2nd consecutive day a decrease has occurred. Relative to other instruments in the Forex asset class, GBPUSD ranked 34th yesterday in terms of percentage price change. Let’s take a look at price chart of GBPUSD.
GBPUSD Technical Analysis
Volatility for GBPUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 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 up 5 them.