GBP/AUD Down 45 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; in a Downtrend Over Past 30 Days

GBP/AUD 4 Hour Price Update

Updated June 18, 2020 09:11 AM GMT (05:11 AM EST)

A moment of silence, please, for the end of GBP/AUD’s 3 four-hour candle up streak; price ended the last 4 hour candle down 45 pips (-0.25%) to finish the four-hour candle at a rate of 1.8219. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 35th 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 1.82557, up 17 pips (0.1%) since the previous day. Relative to other instruments in the Forex asset class, GBP/AUD ranked 14th the previous day in terms of percentage price change. Let’s take a look at price chart of GBP/AUD.

GBP/AUD Technical Analysis

Coming into today 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 32.8 pips away. Volatility for GBP/AUD 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 90 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. 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 20 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.82, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Price currently creating LHs and LLs. To open a position, i would love price to get to my long term weekly Trendline. lets see