This all signals a weakening bullish trend and i suspect that gu will be breaking the weekly trendline some time next week….
Watch the chart and ensure using price action, or your strategy as well….
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpusd.
Or to simplify this another way, note that out of the past 30 days gbpusd’s price has gone up 18 them.
For additional context, note that price has gone up 18 out of the past 30 days.
Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing.
Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward.
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.
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.