GBPUSD Down 12 Pips Over Past Hour; Pin Bar Pattern Appearing on Chart

2 mins read
GBPUSD

Hourly Update (Last Updated January 7, 2021 11:22 GMT) At the time of this writing, GBPUSD’s rate is down -12 pips (-0.09%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a choppiness in price, as…

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