GBP/AUD Up 31 Pips in Last 4 Hours, in a Downtrend Over Past 30 Days; Pin Bar Pattern Appearing on Chart

GBP/AUD 4 Hour Price Update

Updated May 13, 2020 01:10 AM GMT (09:10 PM EST)

GBP/AUD is up 31 pips (0.16%) since the last 4 hour candle (opening the current 4 hour candle near 1.8977), marking the 2nd candle in a row it has gone up. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 7th in terms of percentage change since the last 4 hour candle.

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 1.89578, up 23 pips (0.12%) since the previous day. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 4th in terms of percentage change since the previous day. Here is a price chart of GBP/AUD.

GBP/AUD Technical Analysis

Coming into today the current price of GBP/AUD is sitting close to its 20 and 200 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 200 day average, which is 227.9 pips away. It should be noted, though, the 100 day simple moving average turned upwards, which may be a bullish sign. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to simplify this another way, note that out of the past 30 days GBP/AUD’s price has gone down 21 them. 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

We’re seeing some traders come out with interesting conviction on GBPAUD, with 9 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 1.8, which is bullish. Here’s a piece we found on tradingview.com that we thought you might enjoy.