(Last Updated January 14, 2021 2:22 GMT)
At the time of this writing, GBPUSD’s rate is up 4 pips (0.03%) from the hour prior. The hourly chart shows that GBPUSD has seen 2 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPUSD. Given that we see an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 5 hourly candle timeframe, so the meaning of the candles may require further exploration. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)
The back and forth price flow continues for GBPUSD, which started today off at 1.36314, down 30 pips 0.22% from the day prior. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. Below is a price chart of GBPUSD.
GBPUSD Technical Analysis
Notably, GBPUSD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. 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 down 16 them.