(Last Updated July 23, 2021 23:19 GMT)
At the time of this writing, GBPAUD’s rate is down -13 pips (-0.07%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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)
GBPAUD is up 10 pips (0.05%) since yesterday (opening today near 1.86582), marking the 2nd straight day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 18th for the day in terms of price change. Let’s take a look at price chart of GBPAUD.
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. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 8 them. Also, candlestick traders! Note we see doji pattern appearing here as well.