GBP/USD Up 2 Pips in Last Hour, Moves Down For the 2nd Straight Day; Crosses 20 Day Moving Average
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
GBPUSD
(Last Updated March 4, 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 Construction PMI | Feb 2021 | British Pound | GBP | 2021-03-04 | 09:30 GMT | 51 | 53.3 |
| United States Continuing Jobless Claims | 20/Feb 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 4300K | |
| United States Jobless Claims 4-week Average | Feb/27 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | ||
| United States Initial Jobless Claims | 27/Feb 2021 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 750K | |
| United States Unit Labour Costs QoQ Final | Q4 2020 | US Dollar | USD | 2021-03-04 | 13:30 GMT | 6.6% |
The Trend
If we observe the 90 and 30 day timeframes, we see an uptrend in place for GBPUSD.
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.
Regarding GBPUSD’s correlations over the past 7 days, it has been most correlated with NZDUSD. Over the past 14 days, however, AUDUSD is the asset most correlated to GBPUSD. On the flip side, EURCHF has been the asset least correlated with GBPUSD — but if we observe the prior two weeks, EURNOK 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 8 pips (0.06%) 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 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 8 Pips in Last Hour, Moves Down For the 2nd Straight Day; Crosses 20 Day Moving Average
The clearest trend exists on the 30 day timeframe, which shows price moving up over that time.
GBPUSD Down 1 Pips in Last Hour, in an Uptrend Over Past 30 Days; Nears 20 Day Moving Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpusd.
GBPUSD Up 5 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Eyes 20 Day Average
This is a reversal of the price action on the previous hour, in which price moved down.
GBPUSD Down 7 Pips in Last Hour, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average
For additional context, note that price has gone up 9 out of the past 14 days.
GBPUSD Up 6 Pips On Hourly Chart, 2 Day Down Streak Snapped; in an Uptrend Over Past 30 Days
This is a reversal of the price action on the previous hour, in which price moved down.
GBPUSD Down 17 Pips Over Past Hour, 5 Day Up Streak Ended; Bearish Engulfing Pattern Present
Relative to other instruments in the forex asset class, gbpusd ranked 32nd the previous day in terms of percentage price change.
GBPUSD Down 2 Pips On Hourly Chart, Came Into Today Up For the 5th Straight Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
GBPUSD Up 1 Pips On Hourly Chart, Moves Up For the 4th Consecutive Day; in an Uptrend Over Past 90 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
GBPUSD Down 1 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; in an Uptrend Over Past 90 Days
Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 7th in terms of percentage change since yesterday.