(Last Updated September 22, 2021 1:51 GMT)
At the moment, GBPAUD’s rate is up 8 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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)
The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.88972, up 74 pips (0.39%) since yesterday. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 2nd for the day in terms of price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD crossed above its 50 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 50 day average, which is 54.4 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 15 them.