GBPAUD Up 22 Pips Over Past Hour, Moves Up For the 2nd Consecutive Day; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated November 5, 2021 3:19 GMT)

Currently, GBPAUD’s rate is up 22 pips (0.12%) from the hour prior. This is the 2nd consecutive hour GBPAUD has seen its price head up. 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 doji 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 is up 35 pips (0.19%) since the previous day (opening today near 1.8347), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 18th in terms of percentage change since the previous day. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Coming into today 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 39.5 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 5 out of the past 10 days.