GBPAUD Down 15 Pips On Hourly Chart, Moves Up For the 2nd Straight Day; Price Base in Formation Over Past 14 and 30 Days

Hourly Update

(Last Updated September 30, 2021 2:19 GMT)

At the time of this writing, GBPAUD’s rate is down -15 pips (-0.08%) from the hour prior. This is the 2nd consecutive hour GBPAUD has seen its price head down. Regarding the trend, note that the strongest trend 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 is up 6 pips (0.03%) since the previous day (opening today near 1.88125), marking the 2nd straight day it has gone up. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 17th for the day in terms of price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.8786, 1.8842 and 1.8652 respectively, and thus may be at a key juncture along those timeframes. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 26.4 pips away. 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 up over that time. Also of note is that on the 14 and 30 day bases price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 5 them.