GBPUSD Up 3 Pips in Last Hour; Pin Bar Pattern Appearing on Chart
Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on gbpusd.
GBPUSD
(Last Updated January 23, 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 States Chicago Fed National Activity Index | Dec 2020 | US Dollar | USD | 2021-01-25 | 13:30 GMT | ||
| United States Dallas Fed Manufacturing Index | Jan 2021 | US Dollar | USD | 2021-01-25 | 15:30 GMT | ||
| United Kingdom Employment Change | Oct 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | -100K | |
| United Kingdom Average Earnings excl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 3.1% | |
| United Kingdom Average Earnings incl. Bonus | Nov 2020 | British Pound | GBP | 2021-01-26 | 07:00 GMT | 2.9% |
The Trend
On GBPUSD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
GBPUSD Moving Averages
The moving averages on GBPUSD indicate a trend that is clearly bullish.
The chart below illustrates.
As for assets in the Forex asset class GBPUSD has been correlated to over the past week, it has been most correlated with USDNOK. Over the past 14 days, however, the asset showing the strongest correlation to GBPUSD is GBPJPY. On the flip side, the asset least correlated with GBPUSD over the past week has been GBPAUD, but over the past two weeks, EURUSD 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 time of this writing, GBPUSD’s rate is up 159 pips (1.17%) from the week prior. GBPUSD has seen its price go up 4 out of the past 5 weeks, thus creating some compelling opportunities for bulls. As for the trend on the weekly timeframe, we see the clearest trend on the 10 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.
GBPUSD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
GBPUSD Up 11 Pips On Hourly Chart, 3 Day Up Streak Snapped; in an Uptrend Over Past 90 Days
Compared to its peers in the forex, gbpusd gave its buyers a return that ranked 34th in terms of percentage change since the day prior.
GBPUSD Down 0 Pips in Last Hour; 3 Day Up Streak Broken
This is a reversal of the price action on the previous hour, in which price moved up.
GBPUSD Down 8 Pips in Last Hour, Came Into Today Up For the 3rd Straight Day; in an Uptrend Over Past 90 Days
Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
GBPUSD Up 10 Pips Over Past Hour; Moves Up For the 3rd Day In A Row
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
GBPUSD Up 16 Pips On Hourly Chart, Entered Today Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days
Price action traders may also wish to note that we see a doji candlestick pattern on gbpusd.
GBPUSD Up 16 Pips Over Past Hour
This is a reversal of the price action on the previous hour, in which price moved down.
GBPUSD Up 5 Pips On Hourly Chart, 2 Day Up Streak Ended; Eyes 20 Day Average
This is the 2nd consecutive hour gbpusd has seen its price head up.
GBPUSD Down 40 Pips On Hourly Chart; Entered Today Up For the 2nd Day In A Row
Regarding the trend, note that the strongest trend exists on the 100 hour timeframe.
GBPUSD Up 2 Pips in Last Hour; Entered Today Up For the 2nd Consecutive Day
This move is a reversal from the hour prior, which saw price move down.