(Last Updated January 1, 2021 3:21 GMT)
Currently, GBPUSD’s rate is up 10 pips (0.08%) 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 100 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 previous day (opening today near 1.36561), marking the 3rd day in a row an increase has occurred. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 17th in terms of percentage change since the previous day. Below is a price chart of GBPUSD.
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. Trend traders will want to observe that the strongest trend appears on the 90 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 9 them.