GBP/AUD Up 14 Pips On Hourly Chart, Breaks Above 20 Day Average; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated September 22, 2022 1:40 GMT)

Currently, GBPAUD’s rate is up 14 pips (0.08%) from the hour prior. GBPAUD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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 1.70223, up 24 pips (0.14%) from the day prior. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 10th for the day in terms of price change. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 15 them.