(Last Updated May 11, 2022 1:45 GMT)
Currently, GBPAUD’s rate is down 0 pips (0%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
GBPAUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPAUD is up 23 pips (0.13%) since the day prior (opening today near 1.77479), marking the 3rd day in a row an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 11th in terms of percentage change since the day prior. The price chart of GBPAUD below illustrates.
GBPAUD Technical Analysis
The first thing we should note is that GBPAUD is now close to its 20 and 50 day averages, located at 1.7622 and 1.7681 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 17 them.