GBP/AUD Up 16 Pips On Hourly Chart, Came Into Today Up For the 4th Day In A Row; is Inching Close to 20 Day Average

Hourly Update

(Last Updated August 2, 2022 1:40 GMT)

At the moment, GBPAUD’s rate is up 16 pips (0.09%) from the hour prior. The hourly chart shows that GBPAUD has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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 up 29 pips (0.17%) since yesterday (opening today near 1.74423), marking the 4th day in a row it has gone up. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 14th in terms of percentage change since yesterday. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that 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. The clearest trend exists on the 30 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 down 16 them.