GBP/AUD Up 15 Pips Over Past Hour, 2 Day Down Streak Ended; Nears 20 and 50 Day Moving Averages
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.
GBPAUD
(Last Updated February 24, 2021)
Welcome to the news page for GBPAUD (GBPAUD). Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
Forex Calendar for GBPAUD
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Australia Wage Price Index YoY | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 1.1% | 1.4% |
| Australia Wage Price Index QoQ | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 0.3% | 0.6% |
| Australia Construction Work Done QoQ | Q4 2020 | Australian Dollar | AUD | 2021-02-24 | 00:30 GMT | 1% | -0.9% |
| United Kingdom BoE Monetary Policy Report Hearings | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT | ||
| United Kingdom BoE Gov Bailey Testimony | NA | British Pound | GBP | 2021-02-24 | 14:30 GMT |
The Trend
A trend/countertrend situation exists on GBPAUD, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to sell for those interested in playing the longer term trend.
GBPAUD Moving Averages
The moving averages on GBPAUD summarize its price action in an interesting way. The 20 and 50 day averages suggest a bullish trend, as they are pointing upwards, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
Below is a chart showing GBPAUD’s price with its moving averages.
Regarding GBPAUD’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPNZD. Over the past 14 days, however, the asset showing the strongest correlation to GBPAUD is NZDCAD. On the flip side, the asset least correlated with GBPAUD over the past week has been EURSEK, but over the past two weeks, the asset least correlated with GBPAUD has been GBPCAD. See the chart below to observe the recent price action in GBPAUD versus those of assets it hasn’t been well correlated with.
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The View From the Weekly Timeframe
At the time of this writing, GBPAUD’s rate is up 50 pips (0.28%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the weekly chart exists on the 20 week timeframe. Looking further out, the moving averages on the weekly 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. The weekly chart below shows GBPAUD’s price action over the past year.
GBPAUD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
GBPAUD Down 34 Pips in Last Hour, 2 Day Down Streak Ended; Nears 20 and 50 Day Moving Averages
It should be noted, though, that a trend in the opposite direction, going down, exists on the 90 day timeframe.
GBPAUD Down 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Moves Down For the 2nd Day In A Row
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.
GBPAUD Down 3 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 20 and 100 Day Averages
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
GBPAUD Down 10 Pips in Last Hour, Makes Big Move Relative to Two Week Trend; Breaks Above 100 Day Average
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed down.
GBPAUD Up 2 Pips in Last Hour, in an Uptrend Over Past 30 Days; Eyes 20 and 100 Day Averages
Price action traders may also wish to note that we see a doji candlestick pattern on gbpaud.
GBPAUD Up 4 Pips Over Past Hour, Entered Today Up For the 3rd Consecutive Day; in an Uptrend Over Past 30 Days
The closest is the 100 day average, which is 17.2 pips away.
GBPAUD Up 6 Pips in Last Hour, Moves Up For the 2nd Day In A Row; Pin Bar Pattern Appearing on Chart
For additional context, note that price has gone up 9 out of the past 14 days.
GBPAUD Down 3 Pips On Hourly Chart, Price Base in Formation Over Past 14 Days; is Inching Close to 20 and 50 Day Averages
Compared to its peers in the forex, gbpaud gave its buyers a return that ranked 12th in terms of percentage change since the previous day.
GBPAUD Down 1 Pips in Last Hour, in an Uptrend Over Past 30 Days; Bearish Engulfing Pattern Present
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.