(Last Updated July 29, 2022 1:41 GMT)
Currently, GBPAUD’s rate is down -10 pips (-0.06%) from the hour prior. GBPAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend 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)
GBPAUD is up 13 pips (0.07%) since the previous day (opening today near 1.73926), marking the 2nd consecutive day an increase has occurred. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 5th for the day in terms of price change. The price chart of GBPAUD below illustrates.
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 1.7494, 1.7542 and 1.7589 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 14 day horizon; over that time period, price has been moving down. Or to simplify this another way, note that out of the past 10 days GBPAUD’s price has gone up 5 them.
The View From Around the Web
Of note is that traders in aggregate have opinions on GBPAUD, with 5 buy signals on our radar and 2 sell signals. This imputes a buy/sell ratio of 2.5, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
This pair has been consolidating since april and recently it formed a higher low with april’s low showing a change in trend ,this a swing trade opportunity,,.#DoYourOwnThinking