GBPAUD Down 6 Pips Over Past Hour, in an Uptrend Over Past 14 Days; Doji Pattern Appearing on Chart

Hourly Update

(Last Updated April 5, 2021 2:20 GMT)

At the moment, GBPAUD’s rate is down -6 pips (-0.03%) from the hour prior. This is the 2nd straight hour GBPAUD has seen its price head down. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPAUD. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 hour changed directions on GBPAUD; it is now pointing down. 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 entered today at 1.81538, up 4 pips (0.02%) from the day prior. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 14th for the day in terms of price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 137.1 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 8 them. Also, candlestick traders! Note we see doji pattern appearing here as well.