GBPUSD Up 4 Pips On Hourly Chart, 2 Day Up Streak Ended; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated November 12, 2020 22:19 GMT)

At the time of this writing, GBPUSD’s rate is up 4 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 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)

The choppiness in the recent daily price action of GBPUSD continues; to start today, it came in at a price of 1.32183, down 51 pips (0.39%) since the previous day. Relative to other instruments in the Forex asset class, GBPUSD ranked 35th the previous day in terms of percentage price change. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Coming into today the current price of GBPUSD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 10 days GBPUSD’s price has gone up 5 them.