GBP/AUD Down 8 Pips On 4 Hour Chart, 2 Day Down Streak Snapped; in a Downtrend Over Past 14 Days

GBP/AUD 4 Hour Price Update

Updated June 29, 2020 09:08 PM GMT (05:08 PM EST)

The back and forth price flow continues for GBP/AUD, which started the current 4 hour candle off at 1.7909, down 8 pips 0.04% from the previous 4 hours. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 24th 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 1.79656, up 4 pips 0.02% from the day prior. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 24th in terms of percentage change since the day prior. Let’s take a look at price chart of GBP/AUD.

GBP/AUD Technical Analysis

The first thing we should note is that 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 182.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 10 days GBP/AUD’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

Of note is that traders in aggregate have opinions on GBPAUD, with 17 buy signals on our radar and 12 sell signals. This imputes a buy/sell ratio of 1.42, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a flag technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

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