GBPAUD Down 2 Pips Over Past Hour, 4 Day Up Streak Ended; Crosses 20, 50 and 200 Day Moving Averages

Hourly Update

(Last Updated April 22, 2021 2:20 GMT)

Currently, GBPAUD’s rate is down -2 pips (-0.01%) from the hour prior. GBPAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPAUD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 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)

After 4 up days, GBPAUD snaps its streak, falling 79 pips (-0.44%) over the past day to close at an exchange rate of 1.7964. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 32nd in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed below its 20, 50 and 200 day moving averages yesterday. 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 50 day average, which is 10.7 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 17 them.