GBP/AUD Down 2 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; Morning Star Pattern Appearing on Chart

Hourly Update

(Last Updated September 8, 2021 1:48 GMT)

At the time of this writing, GBPAUD’s rate is down -2 pips (-0.01%) from the hour prior. The hourly chart shows that GBPAUD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)

The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.86537, up 51 pips (0.27%) since the previous day. Relative to other instruments in the Forex asset class, GBPAUD ranked 14th the previous day in terms of percentage price change. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today GBPAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 6 out of the past 10 days. Also, candlestick traders! Note we see morning star pattern appearing here as well.