GBPAUD Up 20 Pips in Last Hour, Outperforms All Forex; Makes Big Move Relative to Two Week Trend

Hourly Update

(Last Updated October 15, 2020 2:18 GMT)

At the time of this writing, GBPAUD’s rate is up 20 pips (0.11%) from the hour prior. This is the 3rd hour in a row GBPAUD has seen its price head up. Regarding the trend, note that the strongest trend exists 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 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

GBPAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for GBPAUD, which started today off at 1.81655, up 113 pips 0.63% from the day prior. GBPAUD outperformed all 40 assets in the Forex asset class the day prior. Congrats to its holders! The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed above its 50 and 100 day moving averages yesterday. 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. For additional context, note that price has gone up 16 out of the past 30 days.