GBP/AUD 4 Hour Price Update
Updated May 25, 2020 01:07 PM GMT (09:07 AM EST)
A moment of silence, please, for the end of GBP/AUD’s 4 four-hour candle up streak; price ended the last 4 hour candle down 14 pips (-0.08%) to finish the four-hour candle at a rate of 1.8628. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 31st for the four-hour candle in terms of price change.
GBP/AUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The choppiness in the recent daily price action of GBP/AUD continues; to start today, it came in at a price of 1.8608, up 3 pips (0.02%) since yesterday. Out of the 40 instruments in the Forex asset class, GBP/AUD ended up ranking 21st for the day in terms of price change. The price chart of GBP/AUD below illustrates.
GBP/AUD Technical Analysis
Notably, GBP/AUD is now close to its 20 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 345 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 up 5 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.