This imputes a buy/sell ratio of 2.4, which is bullish.
Relative to other instruments in the forex asset class, gbp/usd ranked 22nd yesterday in terms of percentage price change.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 48.28% from the day prior, and up 47.24% from the same day the week before.
As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern.
Alternatively, regarding pairs with the lowest correlation to gbp/usd?
It should be noted, though, the 20, 50 and 100 day simple moving averages turned downwards, which may be a bearish sign.
As for the rationale, technical traders seem to be citing the appearance of a channel technical pattern.
This move happened on fewer tick price changes which may be a proxy for volume, as yesterday’s total tick count was down 13.84% from the day before — and down 3.3% from the same day the week before.
The price move occurred on volume — and we’re using the number of tick price changes as a proxy for volume — that was down 30.2% from the day prior, but up 21.3% from the same day the week before.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.