GBPAUD Down 13 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; Breaks Above 50 and 200 Day Averages

Hourly Update

(Last Updated April 20, 2021 2:20 GMT)

At the time of this writing, GBPAUD’s rate is down -13 pips (-0.07%) from the hour prior. GBPAUD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 is up 114 pips (0.64%) since yesterday (opening today near 1.80177), marking the 3rd consecutive day an upward move has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 7th in terms of percentage change since yesterday. The price chart of GBPAUD below illustrates.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed above its 50 and 200 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 20 day average, which is 0.9 pips away. It should be noted, though, the 200 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up. For additional context, note that price has gone up 8 out of the past 14 days.