GBP/AUD Down 0 Pips Over Past Hour, Moves Up For the 5th Consecutive Day; Price Base in Formation Over Past 14 Days

Hourly Update

(Last Updated November 22, 2022 1:42 GMT)

At the moment, GBPAUD’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved 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 an uptrend 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 up 93 pips (0.52%) since the previous day (opening today near 1.78984), marking the 5th consecutive day it has gone up. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 8th in terms of percentage change since the previous day. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Notably, GBPAUD is now close to its 20, 50 and 200 day moving averages, which may act as price barrier for the asset. 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. The closest is the 20 day average, which is 107 pips away. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 6 them.

The View From Around the Web

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

Hi there, GBPAUD is setting up for bullish run. Watch lower time frame and look for continuation trades for more upside. Good Luck