GBPAUD Up 5 Pips On Hourly Chart, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated July 19, 2021 6:18 GMT)

At the time of this writing, GBPAUD’s rate is up 5 pips (0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend 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)

The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.86285, up 33 pips (0.18%) since the day prior. Relative to other instruments in the Forex asset class, GBPAUD ranked 12th the day prior in terms of percentage price change. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Coming into today GBPAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 17 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!