GBPUSD Down 14 Pips Over Past Hour; Price Base in Formation Over Past 30 Days
The closest is the 50 day average, which is 74.4 pips away.
GBPUSD
(Last Updated April 15, 2021)
Welcome to the news page for GBPUSD (GBPUSD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for GBPUSD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United Kingdom BoE Credit Conditions Survey | NA | British Pound | GBP | 2021-04-15 | 08:30 GMT | ||
| United States Continuing Jobless Claims | 03/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 3700K | 3731K |
| United States Initial Jobless Claims | 10/Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 700K | 576K |
| United States NY Empire State Manufacturing Index | Apr 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 19.5 | 26.3 |
| United States Retail Sales MoM | Mar 2021 | US Dollar | USD | 2021-04-15 | 12:30 GMT | 5.9% | 9.8% |
The Trend
A trend/countertrend situation exists on GBPUSD, in which a downtrend exists on shorter timeframes but an uptrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the uptrend 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 100 and 200 day averages are pointing upwards, suggesting a bullish trend, while the 20 and 50 day averages are pointing downward, suggesting a bearish trend on those timeframes. This implies that the long-term trend — meaning going back over 3 months — is bullish, while the trend over the past month and a half is bearish.
Below is a chart showing GBPUSD’s price with its moving averages.
As for assets in the Forex asset class GBPUSD has been correlated to over the past week, it has demonstrated the strongest correlation with EURCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPUSD is NZDJPY. Alternatively, EURCAD has been the asset least correlated with GBPUSD — but over the past two weeks, AUDCAD has been the asset least correlated with GBPUSD. The chart below illustrates GBPUSD against its least correlated assets.
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The View From the Weekly Timeframe
At the moment, GBPUSD’s rate is up 76 pips (0.55%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPUSD: The Monthly View
Monthly trend: strongest on the 24 month timeframe.
GBPUSD Up 1 Pips Over Past Hour; Price Base in Formation Over Past 30 Days
Relative to other instruments in the forex asset class, gbpusd ranked 32nd yesterday in terms of percentage price change.
GBPUSD Down 10 Pips On Hourly Chart; Crosses 50 Day Moving Average
It should be noted, though, the 50 day simple moving average turned upwards, which may be a bullish sign.
GBPUSD Down 3 Pips in Last Hour, 3 Day Up Streak Broken; is Inching Close to 20, 50 and 100 Day Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
GBPUSD Up 6 Pips in Last Hour, Moves Up For the 2nd Consecutive Day; is Inching Close to 20 and 100 Day Averages
And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well.
GBPUSD Down 18 Pips On Hourly Chart; Breaks Above 20 Day Average
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
GBPUSD Up 4 Pips On Hourly Chart, 2 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart
The closest is the 100 day average, which is 16.2 pips away.
GBPUSD Down 3 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Crosses 100 Day Moving Average
This is the 2nd straight hour gbpusd has seen its price head down.
GBPUSD Down 3 Pips in Last Hour, 4 Day Down Streak Ended; Nears 100 Day Moving Average
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.
GBPUSD Down 7 Pips Over Past Hour, Came Into Today Down For the 3rd Straight Day; Nears 100 Day Moving Average
It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe.