GBP/AUD Down 14 Pips Over Past 4 Hours, Makes Big Move Relative to Past Month; Nears 20 Day Moving Average

GBP/AUD 4 Hour Price Update

Updated July 24, 2020 09:10 PM GMT (05:10 PM EST)

GBP/AUD, which opened the current 4 hour candle priced near 1.8017, is down 14 pips 0.08% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 4 four-hour candle positive run. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 29th for the four-hour candle in terms of price change.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for GBP/AUD, which started today off at 1.79296, down 20 pips 0.11% from the previous day. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 39th in terms of percentage change since the previous day. Here is a price chart of GBP/AUD.

GBP/AUD

GBP/AUD Technical Analysis

Notably, the current price of GBP/AUD is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. For additional context, note that price has gone up 7 out of the past 14 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 12 buy signals on our radar and 16 sell signals. This imputes a buy/sell ratio of 0.75, which is bearish. As for the rationale, technical traders seem to be citing the appearance of a divergence technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

ok guys gbpaud has more than one bullish sign im preparing for the next week all is explained in the the chart for more analysis add my telegram channel :https://t.me/FAAASignals