(Last Updated January 20, 2022 1:46 GMT)
At the time of this writing, GBPAUD’s rate is down -22 pips (-0.11%) from the hour prior. GBPAUD has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPAUD. Given that we see downtrend on the 20 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 down 75 pips (0.39%) since the day prior (opening today near 1.88509), marking the 4th day in a row a decline has happened. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 36th for the day in terms of price change. Here is a price chart of GBPAUD.
GBPAUD Technical Analysis
The first thing we should note is that GBPAUD is now close to its 20, 50, 100 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 51.8 pips away. Volatility for GBPAUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 8 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 1 sell signals and 2 buy signals. This imputes a buy/sell ratio of 2, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
I vote to enter at this level because of SNR level and market trending. Kindly please help to filter with your own analysis. I don’t have time to argue. Do not hesitate to private message me for MORE signal