GBPAUD Down 8 Pips On Hourly Chart, 2 Day Down Streak Broken; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated September 3, 2021 2:19 GMT)

Currently, GBPAUD’s rate is down -8 pips (-0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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)

The back and forth price flow continues for GBPAUD, which started today off at 1.86965, up 2 pips 0.01% from the previous day. Relative to other instruments in the Forex asset class, GBPAUD ranked 20th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today the current price of GBPAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 7 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!