GBP/USD Up 4 Pips On Hourly Chart, in an Uptrend Over Past 14 Days; Nears 50 Day Moving Average

Hourly Update

(Last Updated December 29, 2021 1:46 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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 entered today at 1.34325, down 9 pips (0.06%) from yesterday. Relative to other instruments in the Forex asset class, GBPUSD ranked 16th yesterday in terms of percentage price change. Below is a price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Notably, GBPUSD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. For additional context, note that price has gone up 15 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.