GBPUSD Down 0 Pips Over Past Hour, Entered Today Up For the 3rd Straight Day; in an Uptrend Over Past 90 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
GBPUSD
(Last Updated January 18, 2021)
Hello! This is the news page for 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 Haldane Speech | NA | British Pound | GBP | 2021-01-19 | 18:00 GMT | ||
| United States Foreign Bond Investment | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
| United States Net Long-Term Tic Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
| United States Overall Net Capital Flows | Nov 2020 | US Dollar | USD | 2021-01-19 | 21:00 GMT | ||
| United States Joe Biden’s Inauguration | NA | US Dollar | USD | 2021-01-20 | 00:00 GMT |
The Trend
On GBPUSD, there is currently an uptrend on the 90 and 30 day timeframes.
GBPUSD Moving Averages
GBPUSD’s moving averages suggest the trend on a number of time horizons is bullish.
The chart below illustrates.
Regarding GBPUSD’s correlations over the past 7 days, it has been most correlated with GBPJPY. Over the past 14 days, however, USDCAD is the asset most correlated to GBPUSD. Alternatively, NZDJPY has been the asset least correlated with GBPUSD — but if we observe the prior two weeks, USDSEK has been the asset least correlated with GBPUSD. See the chart below to observe the recent price action in GBPUSD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the moment, GBPUSD’s rate is up 21 pips (0.16%) from the week prior. It’s been a feast for bulls operating on the weekly timeframe, as GBPUSD has now gone up 8 of the past 10 weeks. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPUSD. Given that we see an uptrend on the 20 and 10 weekly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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. The weekly chart below shows GBPUSD’s price action over the past year.
GBPUSD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
GBP/USD Down 0 Pips in Last Hour, Moves Up For the 2nd Straight Day; in an Uptrend Over Past 90 Days
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
GBPUSD Down 1 Pips Over Past Hour, Entered Today Up For the 3rd Straight Day; Pin Bar Pattern Appearing on Chart
Relative to other instruments in the forex asset class, gbpusd ranked 8th the previous day in terms of percentage price change.
GBPUSD Up 11 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 down 6 out of the past 10 days.
GBPUSD Down 15 Pips in Last Hour
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up.
GBPUSD Down 5 Pips in Last Hour; in an Uptrend Over Past 90 Days
Relative to other instruments in the forex asset class, gbpusd ranked 11th yesterday in terms of percentage price change.
GBPUSD Up 4 Pips Over Past Hour; in an Uptrend Over Past 90 Days
Given that we see an uptrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPUSD Down 0 Pips On Hourly Chart, 4 Day Down Streak Ended; in an Uptrend Over Past 30 Days
The clearest trend exists on the 90 day timeframe, which shows price moving up over that time.
GBPUSD Down 2 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; Eyes 20 Day Average
Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 31st in terms of percentage change since the day prior.
GBPUSD Down 12 Pips in Last Hour, Moves Down For the 2nd Consecutive Day; in an Uptrend Over Past 90 Days
It’s been a feast for bears operating on an hourly timeframe, as gbpusd has now gone down 4 of the past 5 hours.