(Last Updated November 23, 2022 2:24 GMT)
At the time of this writing, GBPAUD’s rate is up 5 pips (0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. Regarding the trend, note that the strongest trend exists on the 100 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)
After 5 up days, GBPAUD snaps its streak, falling 12 pips (-0.06%) over the past day to close at an exchange rate of 1.78868. Relative to other instruments in the Forex asset class, GBPAUD ranked 21st yesterday in terms of percentage price change. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
The first thing we should note is that GBPAUD is now close to its 20, 50 and 200 day averages, located at 1.7788, 1.7548 and 1.758 respectively, and thus may be at a key juncture along those timeframes. 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 98.6 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. For additional context, note that price has gone up 17 out of the past 30 days.