GBPAUD Down 5 Pips On Hourly Chart, in a Downtrend Over Past 14 Days; is Inching Close to 20 and 100 Day Averages

Hourly Update

(Last Updated October 12, 2021 0:19 GMT)

Currently, GBPAUD’s rate is down -5 pips (-0.03%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPAUD has now gone down 9 of the past 10 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 up 29 pips (0.15%) since the previous day (opening today near 1.86617), marking the 2nd day in a row it has gone up. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 11th in terms of percentage change since the previous day. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Coming into today GBPAUD is now close to its 20, 50, 100 and 200 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 100 day average, which is 35.2 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. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 10 them.