GBP/USD Up 48 Pips On 4 Hour Chart; Moves Up For the 2nd Day In A Row

GBP/USD 4 Hour Price Update

Updated March 25, 2020 01:36 PM GMT (09:36 AM EST)

GBP/USD is up 48 pips (0.41%) since the last 4 hour candle (opening the current 4 hour candle near 1.1881), marking the 4th candle in a row an upward move has occurred. Compared to its peers in the Forex, GBP/USD gave its buyers a return that ranked 9th in terms of percentage change since the last 4 hour candle.

GBP/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/USD is up 38 pips (0.32%) since the previous day (opening today near 1.179), marking the 2nd day in a row an increase has occurred. Compared to its peers in the Forex, GBP/USD gave its buyers a return that ranked 3rd in terms of percentage change since the previous day. 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 532.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPUSD, with 19 buy signals on our radar and 10 sell signals. This imputes a buy/sell ratio of 1.9, 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.

Pivot: 1.1750Most Likely Scenario: long positions above 1.1750 with target at 1.22440 in extension.Comment: the RSI shows upside momentum.