GBP/AUD Down 4 Pips Over Past Hour, 5 Day Up Streak Snapped; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated June 13, 2022 1:39 GMT)

At the moment, GBPAUD’s rate is down -4 pips (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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, which opened today priced near 1.74846, is down 111 pips 0.63% since the day prior, marking a reversal from the day prior — and the end of a 5 day positive run. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 24th for the day in terms of price change. Here is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: GBPAUD crossed below its 20 and 50 day moving averages yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 7 out of the past 14 days. 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

Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 0 sell signals and 1 buy signals. This imputes a buy/sell ratio that’s infinite! But, let’s take that with a grain of salt. 🙂 Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPAUD has been shocked us last weekendits completed a triple bottom good to go!!