GBP/AUD Up 41 Pips On 4 Hour Chart, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

GBP/AUD 4 Hour Price Update

Updated May 21, 2020 05:09 PM GMT (01:09 PM EST)

GBP/AUD is up 41 pips (0.22%) since the previous 4 hours (opening the current 4 hour candle near 1.8633), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 7th in terms of percentage change since the previous 4 hours.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/AUD entered today at 1.85671, up 29 pips (0.16%) from the day prior. Relative to other instruments in the Forex asset class, GBP/AUD ranked 3rd the day prior in terms of percentage price change. Here is a price chart of GBP/AUD.

GBP/AUD Technical Analysis

Notably, the current price of GBP/AUD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 440.7 pips away. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 21 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPAUD, with 11 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel and stochastic technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Investors are fully responsible for any investment decisions they make….————————————————————————————PARALLEL CHANNEL CONNECTED WITH WAVE2 AND WAVE4 ….FIFTH ALREADY MAKING .