GBP/CAD Down 9 Pips in Last Hour; in an Uptrend Over Past 14 Days

2 mins read

Hourly Update (Last Updated February 22, 2021 1:50 GMT) At the time of this writing, GBPCAD’s rate is down -9 pips (-0.05%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPCAD has now gone down 8 of the past 10 hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in…

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