GBPAUD Down 15 Pips in Last Hour, Breaks Below 50 and 100 Day Averages; Price Base in Formation Over Past 30 Days

Hourly Update

(Last Updated November 17, 2020 2:19 GMT)

At the time of this writing, GBPAUD’s rate is down -15 pips (-0.08%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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)

The back and forth price flow continues for GBPAUD, which started today off at 1.80145, down 139 pips 0.76% from the previous day. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 38th in terms of percentage change since the previous day. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed below its 50 and 100 day moving averages 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 50 day average, which is 53.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone down 7 out of the past 10 days.