(Last Updated September 16, 2022 1:41 GMT)
At the time of this writing, GBPAUD’s rate is down -9 pips (-0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPAUD has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 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 21 pips (0.12%) since yesterday (opening today near 1.71147), marking the 4th straight day an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 16th in terms of percentage change since yesterday. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
Coming into today GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.7028, 1.7243 and 1.7423 respectively, and thus may be at a key juncture along those timeframes. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 90 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 8 them.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on GBPAUD, with 11 buy signals on our radar and 1 sell signals. This imputes a buy/sell ratio of 11, which is very bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
GBP-AUD broke the falling resistance Which makes me locally bullish biased So I think that after the pullback and retest We will see further growth