For additional context, note that price has gone up 7 out of the past 10 days.
Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
This move is a reversal from the hour prior, which saw price move up.
Price action traders may also wish to note that we see a doji candlestick pattern on gbpaud.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
It’s been a feast for bulls operating on an hourly timeframe, as gbpaud has now gone up 4 of the past 5 hours.
Relative to other instruments in the forex asset class, gbpaud ranked 6th the previous day in terms of percentage price change.
This imputes a buy/sell ratio of 1.43, which is bullish.
Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down.