(Last Updated April 15, 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:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| Australia Employment Change | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 35K | 70.7K |
| Australia Unemployment Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 5.7% | 5.6% |
| Australia Participation Rate | Mar 2021 | Australian Dollar | AUD | 2021-04-15 | 01:30 GMT | 66.1% | 66.3% |
| United Kingdom BoE Credit Conditions Survey | NA | British Pound | GBP | 2021-04-15 | 08:30 GMT | ||
| Australia HIA New Home Sales MoM | Mar 2021 | Australian Dollar | AUD | 2021-04-16 | 03:00 GMT |
As for trends on GBPAUD, we’re seeing a downtrend on shorter timeframes — but an uptrend on the 90 day timeframe. The countertrend on the shorter timeframe may provide an opportunity to buy for those interested in playing the longer term trend.
The moving averages on GBPAUD indicate a trend that is clearly bearish. Moreover, it should also be noted that the 20 and 50 SMA just turned bearish today.
Below is a chart showing GBPAUD’s price with its moving averages.
As for assets in the Forex asset class GBPAUD has been correlated to over the past week, it has demonstrated the strongest correlation with GBPNZD. GBPAUD has been most correlated with GBPNZD over the past 14 days also, so this may be a recurring pattern. On the flip side, USDTRY has been the asset least correlated with GBPAUD — but if we observe the prior two weeks, ZARJPY has been the asset least correlated with GBPAUD. The chart below illustrates GBPAUD against its least correlated assets.
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At the moment, GBPAUD’s rate is down -144 pips (-0.8%) from the week prior. Moreover, note that the weekly chart shows that GBPAUD has seen 2 straight down weeks. From a weekly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 5, 10 and 20 week timeframes. 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.
Monthly trend: strongest on the 120 month timeframe.
Compared to its peers in the forex, gbpaud gave its buyers a return that ranked 19th in terms of percentage change since the day prior.
The closest is the 200 day average, which is 59.2 pips away.
The closest is the 200 day average, which is 51.7 pips away.
This move is a reversal from the hour prior, which saw price move up.
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.
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
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.
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
Interestingly, a trend in the other direction exists on the 90 day timeframe, where price is headed up.
This is a reversal of the price action on the previous hour, in which price moved up.