GBP/AUD Up 15 Pips Over Past Hour, Entered Today Down For the 2nd Straight Day; in an Uptrend Over Past 14 Days

Hourly Update

(Last Updated January 12, 2022 1:41 GMT)

At the time of this writing, GBPAUD’s rate is up 15 pips (0.08%) 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 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 is down 8 pips (0.04%) since yesterday (opening today near 1.89036), marking the 2nd straight day it has gone down. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 23rd in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 20 day average, which is 227.2 pips away. It should be noted, though, the 100 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 19 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPAUD, with 4 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Trade details for current trade are shown on the chart.We are working the 15M time frame for this trade. We’re looking for the green line which is take profit target.Little blue arrow and blue line is entry point. Purple line is the stop loss. Previous trades can also be seen on chart. Lets see how the current trade plays out. ——————————————I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily.Jumping on random trade ideas ‘willy-nilly’ on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way.——————————————Please hit the 👍 LIKE button if you like my ideas🙏Also follow my profile, then you will receive a notification whenever I post a trading idea – so you don’t miss them. 🙌No one likes missing out, do they?The stats for this pair are shown below too.Thank you.Darren