GBPUSD Up 11 Pips in Last Hour; is Inching Close to 20 and 50 Day Averages

Hourly Update

(Last Updated April 26, 2021 3:21 GMT)

At the time of this writing, 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 100 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 1.38745, down 3 pips 0.02% from the previous day. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 24th in terms of percentage change since the previous day. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Coming into today GBPUSD is now close to its 20, 50 and 100 day averages, located at 1.3823, 1.3847 and 1.3784 respectively, and thus may be at a key juncture along those timeframes. 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 27.2 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPUSD’s price has gone up 7 them.