GBP/USD Down 0 Pips in Last Hour, in an Uptrend Over Past 90 Days; is Inching Close to 20 Day Average

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GBPUSD

Hourly Update (Last Updated March 2, 2021 2:1 GMT) At the time of this writing, GBPUSD’s rate is down 0 pips (0%) from the hour prior. The hourly chart shows that GBPUSD has seen 2 straight down hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPUSD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly…

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