GBPUSD

(Last Updated June 2, 2020)

Hello! This is the news page for GBPUSD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

A trend/countertrend situation exists on GBPUSD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.

GBPUSD Moving Averages

Nuances in the trend on GBPUSD can be understood by observing the behavior of its moving averages. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, while the 100 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.

The chart below illustrates.

As for correlation, As for assets in the Forex asset class GBPUSD has been correlated to over the past week, it has demonstrated the strongest correlation with GBPJPY. GBPJPY is the asset with which GBPUSD has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, GBPNZD has been the asset least correlated with GBPUSD — but over the past two weeks, USDCNH has been the asset least correlated with GBPUSD. The chart below illustrates GBPUSD against its least correlated assets.

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