GBP/USD Up 22 Pips Over Past 4 Hours, Moves Up For the 3rd Day In A Row; in a Downtrend Over Past 30 Days

GBP/USD 4 Hour Price Update

Updated March 26, 2020 05:14 AM GMT (01:14 AM EST)

The back and forth price flow continues for GBP/USD, which started the current 4 hour candle off at 1.1866, up 22 pips 0.19% from the last 4 hour candle. Relative to other instruments in the Forex asset class, GBP/USD ranked 16th the last 4 hour candle in terms of percentage price change.

GBP/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/USD is up 39 pips (0.33%) since the previous day (opening today near 1.1829), marking the 3rd day in a row an increase has occurred. Out of the 40 instruments in the Forex asset class, GBP/USD ended up ranking 14th for the day in terms of price change. Below is a price chart of GBP/USD.

GBP/USD Technical Analysis

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 20 day average, which is 444.1 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBP/USD’s price has gone down 6 them.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPUSD, with 16 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 1.78, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

LOOKING FOR POSSIBLE LONGS FOR GU TO THE 618 FIB LEVELENTRY – 1.1827TAKE PROFIT – 1.28984SL IS A LITTLE DEEP SO RISK ACCORDINGLY – 1.14696GOOD LUCK!