GBP/AUD Down 20 Pips in Last Hour, Entered Today Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
GBPAUD
(Last Updated November 26, 2020)
Welcome to the news page for GBPAUD (GBPAUD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On GBPAUD, there is currently a clear downtrend on the 30 day timeframe.
GBPAUD Moving Averages
The moving averages on GBPAUD summarize its price action in an interesting way. The 50 and 100 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 20 and 200 day averages that imply a bearish trend.
The chart below illustrates.
Regarding GBPAUD’s correlations over the past 7 days, it has demonstrated the strongest correlation with GBPCAD. GBPCAD is the asset with which GBPAUD has been most correlated with over the past two weeks as well, so this may be a recurring pattern. On the flip side, EURCAD has been the asset least correlated with GBPAUD — but if we observe the prior two weeks, the asset least correlated with GBPAUD has been AUDUSD. See the chart below to observe the recent price action in GBPAUD versus those of assets it hasn’t been well correlated with.
.
The View From the Weekly Timeframe
At the moment, GBPAUD’s rate is down -0.0017 (-0.09%) from the week prior. Moreover, note that this is a reversal of the price action on the previous week, in which price moved up. 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 bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPAUD’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPAUD: The Monthly View
Strongest trend on the 120 month timeframe.
GBP/AUD Up 5 Pips On Hourly Chart; Eyes 50 and 100 Day Averages
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe.
GBPAUD Up 20 Pips Over Past Hour; Eyes 50 and 100 Day Averages
Price action traders may also wish to note that we see a doji candlestick pattern on gbpaud.
GBPAUD Up 5 Pips Over Past Hour; Breaks Above 50 and 100 Day Averages
Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPAUD Down 8 Pips in Last Hour, Crosses 50 and 100 Day Moving Averages; in a Downtrend Over Past 14 Days
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
GBPAUD Up 11 Pips in Last Hour, 4 Day Down Streak Ended; Crosses 50 and 100 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 Down 5 Pips in Last Hour, Eyes 50 and 100 Day Averages; Pin Bar Pattern Appearing on Chart
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpaud.
GBPAUD Up 3 Pips Over Past Hour, Makes Big Move Relative to Two Week Trend; Breaks Below 50 and 100 Day Averages
Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
GBPAUD Up 10 Pips in Last Hour, Came Into Today Down For the 2nd Day In A Row; Crosses 20 Day Moving Average
It should be noted, though, the 50 and 100 day simple moving averages turned downwards, which may be a bearish sign.
GBPAUD Up 4 Pips On Hourly Chart; Nears 20 Day Moving Average
Price action traders may also wish to note that we see a pin bar candlestick pattern on gbpaud.