(Last Updated November 15, 2021 1:39 GMT)
Currently, GBPAUD’s rate is down -3 pips (-0.02%) 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. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 1.82973, up 3 pips (0.02%) since the previous day. Relative to other instruments in the Forex asset class, GBPAUD ranked 24th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
First things first: GBPAUD crossed above its 20 day moving average 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 20 day average, which is 0.3 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 8 them.