GBPUSD

(Last Updated September 18, 2020)

Welcome to the news page for GBPUSD (GBPUSD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:

The Trend

As for trends on GBPUSD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.

GBPUSD Moving Averages

Nuances in the trend on GBPUSD can be understood by observing the behavior of its moving averages. The 50 and 100 day averages suggest a bullish trend, as they are pointing upwards, while the 20 and 200 day averages are pointing downward, suggesting a bearish trend on those timeframes.

Below is a chart showing GBPUSD’s price with its moving averages.

In terms of correlations over the past week for GBPUSD, it has demonstrated the strongest correlation with GBPCAD. Over the past 14 days, however, GBPJPY is the asset most correlated to GBPUSD. On the flip side, USDZAR 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 time of this writing, GBPUSD’s rate is up 0.018 (1.41%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. The weekly chart below shows GBPUSD’s price action over the past year.