(Last Updated June 10, 2021 7:20 GMT)
At the moment, GBPAUD’s rate is down -3 pips (-0.02%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPAUD has now gone down 5 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
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 1.82566, down 30 pips 0.17% from the previous day. Relative to other instruments in the Forex asset class, GBPAUD ranked 29th the previous day in terms of percentage price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Coming into today 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. 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 up over that time. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone down 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!