(Last Updated September 1, 2021 6:19 GMT)
At the moment, GBPAUD’s rate is up 3 pips (0.02%) from the hour prior. This is the 2nd consecutive hour GBPAUD has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPAUD. 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. The moving averages on the hourly 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.
GBPAUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of GBPAUD continues; to start today, it came in at a price of 1.87985, down 67 pips (0.36%) since the day prior. Relative to other instruments in the Forex asset class, GBPAUD ranked 33rd the day prior in terms of percentage price change. Below is a price chart of GBPAUD.
GBPAUD Technical Analysis
Coming into today GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.8904, 1.8764 and 1.852 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 14 days GBPAUD’s price has gone up 7 them.