GBPAUD Down 16 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; is Inching Close to 20, 50, 100 and 200 Day Averages
Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down.
GBPAUD
(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:
Forex Calendar for GBPAUD
| 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 |
The Trend
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.
GBPAUD Moving Averages
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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The View From the Weekly Timeframe
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.
GBPAUD: The Monthly View
Monthly trend: strongest on the 120 month timeframe.
GBPAUD Down 6 Pips Over Past Hour, Moves Down For the 2nd Consecutive Day; Pin Bar Pattern Appearing on Chart
It should be noted, though, the 50 day simple moving average turned downwards, which may be a bearish sign.
GBPAUD Down 2 Pips Over Past Hour, 4 Day Up Streak Ended; Crosses 20, 50 and 200 Day Moving Averages
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpaud.
GBPAUD Up 23 Pips On Hourly Chart, Entered Today Up For the 4th Day In A Row; Crosses 20 Day Moving Average
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 13 Pips On Hourly Chart, Moves Up For the 3rd Consecutive Day; Breaks Above 50 and 200 Day Averages
The closest is the 20 day average, which is 0.9 pips away.
GBPAUD Down 7 Pips in Last Hour, Price Base in Formation Over Past 30 Days; Nears 50, 100 and 200 Day Moving Averages
The closest is the 100 day average, which is 36.3 pips away.
GBPAUD Up 12 Pips Over Past Hour, Moves Down For the 3rd Consecutive Day; Nears 100 Day Moving Average
It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe.
GBPAUD Up 14 Pips On Hourly Chart, Moves Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
Relative to other instruments in the forex asset class, gbpaud ranked 36th yesterday in terms of percentage price change.
GBPAUD Down 5 Pips in Last Hour; Crosses 200 Day Moving Average
Price action traders may also wish to note that we see a doji candlestick pattern on gbpaud.
GBPAUD Down 4 Pips in Last Hour, Crosses 200 Day Moving Average; in an Uptrend Over Past 90 Days
This is a reversal of the price action on the previous hour, in which price moved up.