GBPAUD Down 3 Pips in Last Hour, in a Downtrend Over Past 14 Days; Morning Star Pattern Appearing on Chart

Hourly Update

(Last Updated September 8, 2021 12:19 GMT)

Currently, GBPAUD’s rate is down -3 pips (-0.02%) from the hour prior. The hourly chart shows that GBPAUD has seen 2 straight down hours. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. 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)

GBPAUD entered today at 1.86537, up 51 pips (0.27%) from the previous day. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 14th for the day in terms of price change. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. 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 down 6 out of the past 10 days. And for candlestick traders, a special treat: there is a morning star pattern showing up on the charts as well. Rejoice!