Volatility for gbpusd has been contracting over the past two weeks relative to volatility over the past month.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
This move is a reversal from the hour prior, which saw price move down.
Relative to other instruments in the forex asset class, gbpusd ranked 25th the day prior in terms of percentage price change.
It’s been a feast for bears operating on an hourly timeframe, as gbpusd has now gone down 4 of the past 5 hours.
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.
Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 27th in terms of percentage change since the previous day.
Relative to other instruments in the forex asset class, gbpusd ranked 27th yesterday in terms of percentage price change.
Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
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.