(Last Updated June 25, 2021 2:21 GMT)
At the moment, GBPAUD’s rate is down -13 pips (-0.07%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
GBPAUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBPAUD is down 23 pips (0.12%) since the previous day (opening today near 1.84379), marking the 2nd consecutive day it has gone down. Relative to other instruments in the Forex asset class, GBPAUD ranked 29th the previous day in terms of percentage price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, the current price of GBPAUD is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone down 15 them.