(Last Updated November 20, 2020 2:18 GMT)
At the moment, GBPAUD’s rate is down -8 pips (-0.04%) from the hour prior. This is the 2nd consecutive hour GBPAUD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. 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 23 pips (0.13%) since the previous day (opening today near 1.81822), marking the 3rd consecutive day an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 8th in terms of percentage change since the previous day. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD is now close to its 20, 50, 100 and 200 day averages, located at 1.82, 1.8088, 1.8104 and 1.8634 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 17.3 pips away. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 6 them.