(Last Updated January 4, 2021 2:19 GMT)
At the time of this writing, GBPAUD’s rate is up 44 pips (0.25%) from the hour prior. GBPAUD has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 200 hour moving averages, resulting in them so that price is now turning above them. 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 1.77332, up 6 pips (0.03%) since yesterday. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 22nd in terms of percentage change since yesterday. The price chart of GBPAUD below illustrates.
GBPAUD Technical Analysis
The first thing we should note is that the current price of GBPAUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone up 16 out of the past 30 days. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.