GBPAUD Up 3 Pips On Hourly Chart, 2 Day Up Streak Ended; Doji and Pin Bar Patterns Appearing on Chart

Hourly Update

(Last Updated July 15, 2021 1:19 GMT)

At the time of this writing, GBPAUD’s rate is up 3 pips (0.01%) from the hour prior. The hourly chart shows that GBPAUD has seen 2 straight up hours. 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 1.85518, down 17 pips (0.09%) since yesterday. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 18th in terms of percentage change since yesterday. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.8435, 1.836 and 1.8175 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 17 them. Also, candlestick traders! Note we see doji and pin bar patterns appearing here as well.