(Last Updated July 22, 2021 3:21 GMT)
At the time of this writing, GBPUSD’s rate is up 11 pips (0.08%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend 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, which opened today priced near 1.37152, is up 85 pips 0.63% since the previous day, marking a reversal from the day prior — and the end of a 5 day negative run. Compared to its peers in the Forex, GBPUSD gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPUSD.
GBPUSD Technical Analysis
Notably, GBPUSD is now close to its 20, 50, 100 and 200 day averages, located at 1.3803, 1.3956, 1.3938 and 1.3807 respectively, and thus may be at a key juncture along those timeframes. 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 88 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 20 out of the past 30 days.