GBPAUD Down 2 Pips in Last Hour; Breaks Above 20 Day Average

Hourly Update

(Last Updated April 30, 2021 4:20 GMT)

Currently, GBPAUD’s rate is down -2 pips (-0.01%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 20, 50, 100 and 200 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 entered today at 1.79408, up 53 pips (0.3%) from yesterday. Relative to other instruments in the Forex asset class, GBPAUD ranked 9th yesterday in terms of percentage price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed above its 20 day moving average 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 20 day average, which is 5.1 pips away. It should be noted, though, the 50 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 30 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 8 out of the past 14 days.