GBP/USD Up 1 Pips On Hourly Chart, Came Into Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 15, 2021 1:40 GMT)

At the moment, GBPUSD’s rate is up 1 pips (0.01%) from the hour prior. This is the 2nd hour in a row GBPUSD has seen its price head up. 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)

GBPUSD is up 1 pips (0.01%) since the previous day (opening today near 1.34147), marking the 2nd consecutive day it has gone up. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 27th in terms of percentage change since the previous day. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

The first thing we should note is that 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. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days GBPUSD’s price has gone down 10 them.