GBPAUD Up 3 Pips On Hourly Chart, 5 Day Up Streak Snapped; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated January 15, 2021 3:21 GMT)

Currently, GBPAUD’s rate is up 3 pips (0.02%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPAUD has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)

A moment of silence, please, for the end of GBPAUD’s 5 day up streak; price ended the previous day down 35 pips (-0.2%) to finish the day at a rate of 1.75934. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 28th in terms of percentage change since the previous day. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 6 out of the past 10 days.