(Last Updated July 15, 2022 1:44 GMT)
Currently, GBPAUD’s rate is down -8 pips (-0.05%) from the hour prior. GBPAUD has seen its price go down 8 out of the past 10 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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 entered today at 1.75232, down 85 pips (0.48%) from the previous day. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 37th for the day in terms of price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD crossed below its 50 day moving average yesterday. 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 50 day average, which is 78.6 pips away. It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone down 10 out of the past 14 days.
The View From Around the Web
We’re seeing some traders come out with interesting conviction on GBPAUD, with 4 buy signals on our radar and 3 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
GBPAUD | Price Can Reach 1.7680 During These Days During the last week, the price is moving with many up and downsby creating a potential Sideways Trading Opportunity.The price is actually testing the lower part of the structure and it can move up again.Any price movement below the support area will confirm another bearish movement.Targets:🎯 1.75989🎯 1.76809Targets on the chart!Thank you and Good Luck!