GBP/USD Down 5 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; Breaks Below 50 Day Average

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Hourly Update (Last Updated March 22, 2021 1:48 GMT) At the time of this writing, GBPUSD’s rate is down -5 pips (-0.03%) from the hour prior. GBPUSD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound…

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