GBP/AUD Down 0 Pips Over Past Hour, Moves Down For the 2nd Day In A Row; Breaks Below 20 Day Average

Hourly Update

(Last Updated May 4, 2022 1:41 GMT)

At the time of this writing, GBPAUD’s rate is down 0 pips (0%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as GBPAUD has now gone down 4 of the past 5 hours. 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)

GBPAUD is down 130 pips (0.73%) since the day prior (opening today near 1.75984), marking the 2nd day in a row it has gone down. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 37th in terms of percentage change since the day prior. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed below its 20 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed up. For additional context, note that price has gone up 7 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 3 sell signals and 3 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

FX:GBPAUD Trading Forex and other financial products with leverage is highly risky and can result in substantial losses. Trading in the market may not be suitable for everyone. You need to be aware of all the risks and seek the help of independent financial advisors if you have any questions or doubts.