GBP/AUD Up 2 Pips On Hourly Chart, Makes Big Move Relative to Two Week Trend; Crosses 20 Day Moving Average

Hourly Update

(Last Updated November 17, 2021 1:48 GMT)

Currently, GBPAUD’s rate is up 2 pips (0.01%) from the hour prior. GBPAUD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. 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 pin bar candlestick pattern on GBPAUD. Given that we see an uptrend 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 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 1.83896, up 139 pips (0.76%) since the previous day. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 6th in terms of percentage change since the previous day. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed above its 20 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 50.2 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 8 out of the past 14 days.