(Last Updated June 1, 2021 2:20 GMT)
Currently, GBPAUD’s rate is down -8 pips (-0.04%) from the hour prior. GBPAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 so that price is now turning below it. 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 traders.
GBPAUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPAUD is down 26 pips (0.14%) since yesterday (opening today near 1.83661), marking the 2nd day in a row a decrease has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
The first thing we should note is that GBPAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.8214, 1.8054, 1.7999 and 1.7977 respectively, and thus may be at a key juncture along those timeframes. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 16 them. And for candlestick traders, a special treat: there is a doji pattern showing up on the charts as well. Rejoice!