GBP/USD Up 36 Pips; Nears 100 Day Moving Average
Out of the 40 instruments in the forex asset class, gbp/usd ended up ranking 6th for the day in terms of day-over-day price change.
GBPUSD
(Last Updated January 12, 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 Broadbent Speech | NA | British Pound | GBP | 2021-01-12 | 10:00 GMT | ||
| United States Fed Bostic Speech | NA | US Dollar | USD | 2021-01-12 | 14:30 GMT | ||
| United States Fed Brainard Speech | NA | US Dollar | USD | 2021-01-12 | 14:35 GMT | ||
| United States Fed Bostic Speech | NA | US Dollar | USD | 2021-01-12 | 16:00 GMT | ||
| United States Fed Kaplan Speech | NA | US Dollar | USD | 2021-01-12 | 16:00 GMT |
The Trend
On GBPUSD, there is currently an uptrend on the 90, 30 and 14 day timeframes.
GBPUSD Moving Averages
Across several time periods between 20 and 200 days, the trend on GBPUSD has remained consistently bullish.
Below is a chart showing GBPUSD’s price with its moving averages.
In terms of correlations over the past week for GBPUSD, it has been most correlated with USDJPY. Over the past 14 days, however, the asset showing the strongest correlation to GBPUSD is GBPJPY. On the flip side, AUDCAD has been the asset least correlated with GBPUSD — but if we observe the prior two weeks, the asset least correlated with GBPUSD has been USDHKD. The chart below illustrates GBPUSD against its least correlated assets.
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The View From the Weekly Timeframe
Currently, GBPUSD’s rate is down -45 pips (-0.33%) from the week prior. Moreover, note that this is the 2nd consecutive week GBPUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists 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. 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 Up 32 Pips; Crosses 100 Day Moving Average
We are at the very bottom of a massive consolidation area and sitting just above the top of the flag from previous trading, thereby sending the market to bounce a bit….