(Last Updated April 14, 2021 3:20 GMT)
At the moment, GBPAUD’s rate is down -5 pips (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a doji 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)
The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.79873, down 40 pips (0.22%) since the previous day. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 31st for the day in terms of price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed below its 200 day moving average 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 200 day average, which is 9.4 pips away. 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 14 days GBPAUD’s price has gone up 8 them.