GBP/USD Up 11 Pips Over Past Hour, Entered Today Up For the 3rd Straight Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated September 12, 2022 1:43 GMT)

At the time of this writing, GBPUSD’s rate is up 11 pips (0.1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 69 pips (0.6%) since yesterday (opening today near 1.15888), marking the 3rd straight day an increase has occurred. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 4th in terms of percentage change since yesterday. Here is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, the current price of GBPUSD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Volatility for GBPUSD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBPUSD’s price has gone down 6 them.