(Last Updated January 25, 2021 23:20 GMT)
Currently, GBPAUD’s rate is up 20 pips (0.11%) from the hour prior. This is the 3rd consecutive hour GBPAUD has seen its price head up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPAUD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 20 hour moving average, resulting in them with price now being above 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 45 pips (0.26%) since the previous day (opening today near 1.7732), marking the 2nd straight day an upward move has occurred. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 14th for the day in terms of price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.