(Last Updated July 23, 2021 2:20 GMT)
At the moment, GBPAUD’s rate is down -5 pips (-0.02%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)
GBPAUD is up 10 pips (0.05%) since the previous day (opening today near 1.86582), marking the 2nd straight day an increase has occurred. Relative to other instruments in the Forex asset class, GBPAUD ranked 18th the previous day in terms of percentage price change. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
Coming into today the current price of GBPAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing doji pattern appearing here.