(Last Updated December 30, 2021 1:43 GMT)
Currently, GBPAUD’s rate is down -1 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPAUD has now gone down 8 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 18 pips (0.1%) since the day prior (opening today near 1.85958), marking the 6th day in a row an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 23rd in terms of percentage change since the day prior. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 100 day average, which is 30.4 pips away. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 8 them. Also, candlestick traders! Note we see doji pattern appearing here as well.