(Last Updated January 12, 2021 2:20 GMT)
At the time of this writing, GBPAUD’s rate is down -5 pips (-0.03%) from the hour prior. The hourly chart shows that GBPAUD has seen 3 straight down hours. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPAUD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 up 102 pips (0.59%) since yesterday (opening today near 1.75549), marking the 3rd straight day an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 9th in terms of percentage change since yesterday. The price chart of GBPAUD below illustrates.
GBPAUD Technical Analysis
Notably, GBPAUD is now close to its 20 and 50 day averages, located at 1.7678 and 1.7939 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 14 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 16 them.