GBPAUD Down 9 Pips in Last Hour, Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated April 6, 2021 2:20 GMT)

At the moment, GBPAUD’s rate is down -9 pips (-0.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them so that price is now turning below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

GBPAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBPAUD is up 12 pips (0.07%) since yesterday (opening today near 1.81656), marking the 2nd day in a row it has gone up. Relative to other instruments in the Forex asset class, GBPAUD ranked 16th yesterday in terms of percentage price change. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 138.6 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 18 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.