(Last Updated July 12, 2022 1:41 GMT)
At the time of this writing, GBPAUD’s rate is down -5 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend 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)
A moment of silence, please, for the end of GBPAUD’s 5 day down streak; price ended yesterday up 98 pips (0.56%) to finish the day at a rate of 1.76515. Relative to other instruments in the Forex asset class, GBPAUD ranked 10th yesterday in terms of percentage price change. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed above its 20 and 50 day moving averages yesterday. 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 38.5 pips away. 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone down 16 them.