(Last Updated January 7, 2021 2:20 GMT)
Currently, GBPAUD’s rate is up 41 pips (0.23%) from the hour prior. GBPAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being above it. 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)
GBPAUD is down 114 pips (0.65%) since yesterday (opening today near 1.74376), marking the 3rd straight day it has gone down. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 35th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
The first thing we should note is that the current price of GBPAUD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 30 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 16 them.