GBPAUD Up 9 Pips in Last Hour, Entered Today Up For the 2nd Consecutive Day; in a Downtrend Over Past 30 Days

Hourly Update

(Last Updated November 11, 2021 3:19 GMT)

At the moment, GBPAUD’s rate is up 9 pips (0.05%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as GBPAUD has now gone up 4 of the past 5 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 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 23 pips (0.13%) since the day prior (opening today near 1.8255), marking the 2nd consecutive day an increase has occurred. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 17th in terms of percentage change since the day prior. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 80.9 pips away. 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 down 15 out of the past 30 days. Also, candlestick traders! Note we see doji pattern appearing here as well.