GBPAUD Up 23 Pips On Hourly Chart, Entered Today Up For the 4th Day In A Row; Crosses 20 Day Moving Average

Hourly Update

(Last Updated April 21, 2021 3:20 GMT)

Currently, GBPAUD’s rate is up 23 pips (0.13%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPAUD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 26 pips (0.14%) since yesterday (opening today near 1.80434), marking the 4th day in a row an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 17th for the day in terms of price change. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

First things first: GBPAUD crossed above its 20 day moving average 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 25.3 pips away. 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 8 them.