(Last Updated January 4, 2021 2:21 GMT)
At the time of this writing, GBPUSD’s rate is down -8 pips (-0.06%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
GBPUSD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPUSD is up 32 pips (0.23%) since the day prior (opening today near 1.36561), marking the 3rd straight day it has gone up. Relative to other instruments in the Forex asset class, GBPUSD ranked 17th the day prior in terms of percentage price change. The price chart of GBPUSD below illustrates.
GBPUSD Technical Analysis
The first thing we should note is that GBPUSD is now close to its 20 day averages, located at 1.3446 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPUSD’s price has gone up 17 them.