(Last Updated July 16, 2021 23:19 GMT)
At the time of this writing, GBPAUD’s rate is down -1 pips (-0.01%) 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 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 back and forth price flow continues for GBPAUD, which started today off at 1.86328, up 110 pips 0.59% from yesterday. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 5th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
The first thing we should note is that GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.8446, 1.8375 and 1.8188 respectively, and thus may be at a key juncture along those timeframes. 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 10 days GBPAUD’s price has gone up 6 them.