GBPAUD Down 4 Pips Over Past Hour, is Inching Close to 100 Day Average; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 8, 2021 0:19 GMT)

At the moment, GBPAUD’s rate is down -4 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 entered today at 1.86029, down 5 pips (0.03%) from the previous day. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 21st in terms of percentage change since the previous day. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20, 50, 100 and 200 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 down. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone down 9 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.