GBP/USD Down 4 Pips Over Past 4 Hours, 11 Day Up Streak Broken; in an Uptrend Over Past 30 Days

GBP/USD 4 Hour Price Update

Updated July 30, 2020 12:50 AM GMT (08:50 PM EST)

The back and forth price flow continues for GBP/USD, which started the current 4 hour candle off at 1.2981, down 4 pips 0.03% from the last 4 hour candle. Compared to its peers in the Forex, GBP/USD gave its buyers a return that ranked 20th in terms of percentage change since the last 4 hour candle.

GBP/USD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/USD, which opened today priced near 1.29847, is down 12 pips 0.09% since the previous day, marking a reversal from the day prior — and the end of a 11 day positive run. Out of the 40 instruments in the Forex asset class, GBP/USD ended up ranking 32nd for the day in terms of price change. The price chart of GBP/USD below illustrates.

GBP/USD Technical Analysis

Coming into today GBP/USD is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. The closest is the 20 day average, which is 281.2 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 10 days GBP/USD’s price has gone up 9 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

https://www.cfdtrading.com/gbp...