GBP/AUD Down 4 Pips On Hourly Chart, Entered Today Down For the 2nd Straight Day; Nears 20 and 50 Day Moving Averages

Hourly Update

(Last Updated September 24, 2021 1:49 GMT)

Currently, GBPAUD’s rate is down -4 pips (-0.02%) 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. 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 down 26 pips (0.14%) since the previous day (opening today near 1.87975), marking the 2nd straight day a decrease has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 23rd in terms of percentage change since the previous day. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. 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 22.9 pips away. It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 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 7 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!