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.

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.