GBPAUD Up 5 Pips in Last Hour, Nears 20 and 200 Day Moving Averages; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated March 31, 2021 0:20 GMT)

At the moment, GBPAUD’s rate is up 5 pips (0.03%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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)

GBPAUD entered today at 1.803, down 25 pips (0.14%) from yesterday. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 27th for the day in terms of price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today GBPAUD is now close to its 20, 50, 100 and 200 day moving averages, which may act as price barrier for the asset. 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 36.8 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 5 out of the past 10 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.