(Last Updated November 23, 2021 1:42 GMT)
At the time of this writing, GBPUSD’s rate is up 4 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists 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 down 33 pips (0.25%) since yesterday (opening today near 1.33972), marking the 3rd consecutive day a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPUSD ended up ranking 36th for the day in terms of price change. Here is a price chart of GBPUSD.
GBPUSD Technical Analysis
Coming into today GBPUSD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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. 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 30 days GBPUSD’s price has gone down 18 them.