GBPAUD Down 4 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated January 5, 2021 2:20 GMT)

At the moment, GBPAUD’s rate is down -4 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 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 1.76946, down 39 pips (0.22%) since yesterday. Relative to other instruments in the Forex asset class, GBPAUD ranked 21st yesterday in terms of percentage price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.