GBPUSD

(Last Updated November 24, 2020)

Welcome to the news page for GBPUSD (GBPUSD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

On GBPUSD, there is currently an uptrend on the 30 and 14 day timeframes.

GBPUSD Moving Averages

GBPUSD’s moving averages suggest the trend on a number of time horizons is bullish.

Below is a chart showing GBPUSD’s price with its moving averages.

In terms of correlations over the past week for GBPUSD, it has been most correlated with GBPCHF. If we zoom out to a two week basis, though, USDNOK is the asset most correlated to GBPUSD. Alternatively, the asset least correlated with GBPUSD over the past week has been USDCHF, but over the past two weeks, CADJPY has been the asset least correlated with GBPUSD. See the chart below to observe the recent price action in GBPUSD versus those of assets it hasn’t been well correlated with.

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The View From the Weekly Timeframe

At the moment, GBPUSD’s rate is up 0.004 (0.3%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPUSD has now gone up 4 of the past 5 weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 10 week timeframe. Of note is that the 50 week changed directions on GBPUSD; it is now pointing down. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20 and 50 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows GBPUSD’s price action over the past year.

GBPUSD: The Monthly View

Strongest trend on the 120 month timeframe.