GBP/AUD Down 2 Pips Over Past 4 Hours, in a Downtrend Over Past 14 Days; Nears 20 Day Moving Average

GBP/AUD 4 Hour Price Update

Updated June 25, 2020 01:13 PM GMT (09:13 AM EST)

GBP/AUD entered the current 4 hour candle at 1.8104, down 2 pips (0.01%) from the previous 4 hours. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 18th for the four-hour candle in terms of price change.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/AUD is up 20 pips (0.11%) since the day prior (opening today near 1.80984), marking the 3rd day in a row an upward move has occurred. Relative to other instruments in the Forex asset class, GBP/AUD ranked 10th the day prior in terms of percentage price change. The price chart of GBP/AUD below illustrates.

GBP/AUD Technical Analysis

Coming into today 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 72.1 pips away. 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. Or to simplify this another way, note that out of the past 30 days GBP/AUD’s price has gone down 17 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 37 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 2.85, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and divergence technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Hello traders!Keep an eye on this pair because there are bullish signals at the horizon!- MACD shows a BULLISH DIVERGENCE – RSI 14 is almost OVERSOLD Remember to put a stop loss in order to secure your capital!Not a financial advice.Enjoy your trade!