(Last Updated June 15, 2022 1:42 GMT)
At the time of this writing, GBPAUD’s rate is down -3 pips (-0.02%) from the hour prior. The hourly chart shows that GBPAUD has seen 3 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPAUD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
GBPAUD entered today at 1.7444, down 50 pips (0.28%) from the previous day. Relative to other instruments in the Forex asset class, GBPAUD ranked 27th the previous day in terms of percentage price change. The price chart of GBPAUD below illustrates.
GBPAUD Technical Analysis
Coming into today GBPAUD is now close to its 20 and 50 day averages, located at 1.7556 and 1.7588 respectively, and thus may be at a key juncture along those timeframes. 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. For additional context, note that price has gone up 16 out of the past 30 days.