GBP/AUD Down 1 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Came Into Today Up For the 2nd Day In A Row

Hourly Update

(Last Updated September 14, 2022 1:40 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 4 of the past 5 hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar 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. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 116 pips (0.69%) since the previous day (opening today near 1.70634), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 13th in terms of percentage change since the previous day. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed above its 20 day moving average yesterday. 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 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone down 17 them.