GBPUSD Down 2 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; Eyes 20 Day Average

Hourly Update

(Last Updated January 12, 2021 2:21 GMT)

Currently, GBPUSD’s rate is down -2 pips (-0.01%) from the hour prior. GBPUSD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

GBPUSD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPUSD is down 45 pips (0.33%) since the day prior (opening today near 1.35102), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 31st in terms of percentage change since the day prior. Let’s take a look at price chart of GBPUSD.

GBPUSD

GBPUSD Technical Analysis

Coming into today the current price of GBPUSD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone down 16 out of the past 30 days.