GBPAUD Up 7 Pips Over Past Hour, Came Into Today Down For the 2nd Consecutive Day; Crosses 50 Day Moving Average

Hourly Update

(Last Updated October 9, 2020 2:18 GMT)

At the time of this writing, GBPAUD’s rate is up 7 pips (0.04%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 50 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 is down 43 pips (0.24%) since the previous day (opening today near 1.80409), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, GBPAUD ranked 30th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD crossed below its 50 day moving average yesterday. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 17 out of the past 30 days.