(Last Updated January 14, 2021 2:20 GMT)
At the moment, GBPAUD’s rate is up 3 pips (0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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 53 pips (0.3%) since the previous day (opening today near 1.76288), marking the 5th straight day it has gone up. Relative to other instruments in the Forex asset class, GBPAUD ranked 6th the previous day in terms of percentage price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, the current price of GBPAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 6 them.