GBPAUD Up 14 Pips On Hourly Chart, 4 Day Up Streak Broken; Crosses 50 Day Moving Average

Hourly Update

(Last Updated September 13, 2021 11:19 GMT)

At the time of this writing, GBPAUD’s rate is up 14 pips (0.08%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPAUD has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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, which opened today priced near 1.87865, is down 22 pips 0.12% since the previous day, marking a reversal from the day prior — and the end of a 4 day positive run. Relative to other instruments in the Forex asset class, GBPAUD ranked 33rd the previous day in terms of percentage price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

First things first: GBPAUD crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 15 out of the past 30 days.