GBP/AUD Up 5 Pips in Last Hour, 2 Day Up Streak Broken; Crosses 100 and 200 Day Moving Averages

Hourly Update

(Last Updated December 16, 2021 1:42 GMT)

Currently, GBPAUD’s rate is up 5 pips (0.03%) from the hour prior. The hourly chart shows that GBPAUD has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPAUD. Given that we see downtrend on the 20 and 10 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 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)

The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.85054, down 114 pips (0.61%) since the previous day. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 33rd in terms of percentage change since the previous day. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

First things first: GBPAUD crossed below its 100 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 200 day average, which is 9.9 pips away. It should be noted, though, the 20 and 50 day simple moving averages turned downwards, which may be a bearish sign. For additional context, note that price has gone down 15 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 2 buy signals on our radar and 7 sell signals. This imputes a buy/sell ratio of 0.29, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPAUD H1 SHORTmomentum still below 20candle below kumo, tenkan, kijun1:1 Trade