GBP/AUD Up 16 Pips On Hourly Chart, Came Into Today Down For the 3rd Straight Day; in a Downtrend Over Past 90 Days

Hourly Update

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

At the time of this writing, GBPAUD’s rate is up 16 pips (0.09%) 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 103 pips (0.6%) since the previous day (opening today near 1.69307), marking the 3rd straight day a decrease has occurred. Relative to other instruments in the Forex asset class, GBPAUD ranked 31st the previous day in terms of percentage price change. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone down 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.