GBPUSD Up 7 Pips On Hourly Chart; Eyes 50 Day Average

Hourly Update

(Last Updated October 15, 2020 2:19 GMT)

At the moment, GBPUSD’s rate is up 7 pips (0.05%) 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 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 back and forth price flow continues for GBPUSD, which started today off at 1.30115, up 80 pips 0.62% from the day prior. Out of the 40 instruments in the Forex asset class, GBPUSD ended up ranking 2nd for the day in terms of price change. Here is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, GBPUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 9.4 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 11 out of the past 14 days.