GBPAUD Down 8 Pips in Last Hour, Crosses 50 and 100 Day Moving Averages; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 11, 2020 0:18 GMT)

At the time of this writing, GBPAUD’s rate is down -8 pips (-0.04%) 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 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning below it. 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 1.80641, down 35 pips (0.19%) from yesterday. Relative to other instruments in the Forex asset class, GBPAUD ranked 24th yesterday in terms of percentage price change. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed below its 50 and 100 day moving averages yesterday. 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 50 day average, which is 8.5 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 30 day timeframe. For additional context, note that price has gone up 16 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!